PR Newswire | Feb 8, 2021 02:14AM EST

02/08 01:13 CST

ASSA ABLOY acquires Technology Solutions in the UK STOCKHOLM, Feb. 8, 2021

STOCKHOLM, Feb. 8, 2021 /PRNewswire/ -- ASSA ABLOY has acquired Technology Solutions (TSL) in the UK, a global provider of radio frequency identification (RFID) handheld readers. TSL designs, develops and manufactures ruggedized mobile RFID readers and other multi-technology, mobile device peripherals used to identify and track products and assets.

"I am very pleased to welcome TSL into the ASSA ABLOY Group. TSL is a strategic technological addition to the ASSA ABLOY Group and reinforces our current RFID offering and provides complementary growth opportunities," says Nico Delvaux, President and CEO of ASSA ABLOY.

"The acquisition of TSL expands HID's broad RFID portfolio with proven hardware and integration tools that extend our leadership in identification technologies," says Bjrn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global.

TSL was founded in 1994 and has some 25 employees. The main office is located in Loughborough, UK.

Sales in 2020 amounted to about MGBP 3 (approx. MSEK 30) with a good EBIT margin and the acquisition will be accretive to EPS from start.

For more information, please contact:

Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82

Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72

Bjrn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68

About ASSA ABLOY The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 48,000 employees and sales of SEK 88 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world. This information was brought to you by Cision http://news.cision.com https://news.cision.com/assa-abloy/r/assa-abloy-acquires-technology-solutions-in-the-uk,c3281787 The following files are available for download: https://mb.cision.com/Main/7333/3281787/1369205.pdf Press release (PDF) https://news.cision.com/assa-abloy/i/ TSL Bluetooth RFID tsl-bluetooth-rfid-reader,c2875085 reader

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SOURCE ASSA ABLOY