ASSA ABLOY Acquires Arjo Systems in France
- 04.07.2017 08:30 am
ASSA ABLOY has acquired Arjo Systems SAS, a leading provider of physical and digital identity solutions for secure government ID applications.
"Arjo is an exciting technological addition to the ASSA ABLOY Group. The company reinforces our current offering within secure identity solutions. The acquisition of Arjo considerably enhances the Group´s position within government ID and will provide complementary growth opportunities," says Johan Molin, President and CEO of ASSA ABLOY.
"Our acquisition of Arjo significantly advances our Government ID business, broadening our geographical reach and giving us critical mass," says Stefan Widing, Executive Vice President ASSA ABLOY and Head of business unit HID Global. "Arjo is a strong fit for HID Global, complementing our existing government ID offerings with an expanded range of capabilities for government agencies, state printers and local integrators."
Arjo was founded in 2011 and has some 100 employees with operations in France, Italy and Hong Kong.
Sales for 2017 are expected to reach EUR 56 million (approx. SEK 550 million) with a good EBIT margin. The acquisition will be accretive to EPS from start.