In this Research Note, we look at what’s behind Allegion’s acquisition of Elatec GmbH, a German manufacturer of security and access technology, specializing in RFID credentials and reader solutions. We highlight the transaction details and strategic rationale before examining their financial development since 2020, recent acquisitions, and private equity ownership. Elatec Profile Founded in Puchheim near Munich in 1988, Elatec develops contactless (RFID, BLE and NFC) reader hardware and firmware for user identification and a cloud-based IoT platform for device management, mobile credential management, and physical access management. Its global diversified customer base spans non-residential markets, ranging from education, healthcare, and hospitality to enterprise and industrial. The company operates in more than 110 countries and employs around 160 people worldwide. The company has recently expanded its global presence with a regional hub in Dubai. Transaction Details Allegion plc has agreed to acquire ELATEC, including Elatec GmbH and other group entities, from Summit Partners for €330 […]
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