This Research Note examines the technology strategy of Assa Abloy, the global vendor in the access solutions space. We have mapped M&A activity in physical security, access control and identification solutions by categorizing the various acquisitions by technology over the last 2 years (January 2022 to date).
The strategy presentation slide (shown below) at the Capital Markets Day on 16th November 2022 recorded the continuous level of acquisition activity since 2012, ranging from 12 in number to 20.
We have subsequently seen that 2022 was a record year for acquisitions. 21 acquisitions with combined annual sales of more than SEK 7 billion were subsequently reported in Assa Abloy’s Annual Report 2022.
Memoori has identified 10 acquisitions in 2022 and 2023 to date focused on digital solutions for access control and identification technologies across commercial and residential applications in three Assa Abloy divisions: Global Technologies, Opening Systems EMEIA and Opening Systems Americas.
Assa Abloy Global Technologies
Vigil Health Solutions, a provider of call systems and residential monitoring solutions for senior living, headquartered in Victoria, Canada, was acquired in April 2022. Vigil develops and markets a proprietary technology platform combining software and hardware to provide alarm systems and solutions that guide care of and monitor people living in senior living communities. The company has about 30 employees. Sales in 2021 amounted to about MCAD 6.
In May 2022, HID Global (a subsidiary of Assa Abloy acquired in 2000) acquired Vizinex RFID, based in Bethlehem, Pennsylvania and founded in 2012. The acquisition increases HID Global’s presence and relevance in key vertical markets including healthcare/medical, manufacturing, oil & gas, data centers, etc. and adds a key technology to HID Global’s RFID tag portfolio, which now also includes an RFID product platform based on printed circuit board assembly (PCBA) technology.
HID Global acquired Acura, a Brazilian manufacturer and reseller of RFID hardware in June 2022. The acquisition enhances HID Global’s RFID portfolio while expanding the company’s presence and relevance in Latin America. The addition of ACURA provides HID with an added operations and manufacturing footprint in Brazil.
Alcea, a provider of security supervision software and associated access control hardware that provide access management solutions, was acquired in October 2022. The company is headquartered in Villebon-sur-Yvette, France with about 120 employees. Sales in 2021 amounted to about MEUR 20. The Alcea acquisition is expected to strengthen Assa Abloy’s market position in critical infrastructure.
Zipplify, an early-stage Swedish digital locking company for the self-storage industry, founded in 2020 was acquired by Assa Abloy in December 2022.
Janam Technologies, a Woodbury, NY-based provider of handheld mobile computers and readers, was acquired in December 2022. This acquisition enhances HID’s event access portfolio to also include handheld readers for scanning tickets using barcode and RFID technology, including NFC. it will be part of HID’s Identification Technologies Business Area. The company is headquartered in New York, US with some 20 employees. Sales in 2021 amounted to about MUSD 21 (SEK 200M).
GuardRFID was acquired by HID in February 2023. Headquartered in Vancouver, Canada, the provider of real-time location services (RTLS) hardware and software solutions in the healthcare space expands HID’s RTLS portfolio through enhanced active RFID technology, supporting new use cases for infant security, staff duress, asset tracking, and wandering patients.
Opening Solutions EMEIA
Bird Home Automation GmbH, trading as DoorBird, a manufacturer of IP door intercom solutions for single and multi-family buildings, based in Berlin, Germany was acquired in October 2022. This acquisition supports efforts to accelerate growth in the Smart Residential segment and continue the journey into home security. DoorBird was established in 2014 and has some 110 employees. Sales for 2021 amounted to about MEUR 21 (approx. MSEK 220) with a strong EBIT margin.
In September 2023, ASSA ABLOY Opening Solutions EMEIA acquired Kinetron, a specialist in motion-based energy harvesting systems for self-powered products, as part of its efforts to accelerate growth and continue its journey as a leader in digital access solutions. Kinetron is a strategic technological addition to the division and will reinforce their offering in energy harvesting locking solutions that are energy efficient, maintenance free and environmentally friendly.
Opening Solutions Americas
Control iD, a leading developer of hardware and software solutions for access control and time attendance in São Paulo, Brazil, was acquired in September 2022. Control iD is a strategic technological addition; reinforcing Assa Abloy’s access control and biometrics offerings, providing complementary growth opportunities, and enabling them to grow their market leadership in emerging markets. Control iD has some 300 employees. Sales for 2021 amounted to about MBRL 130 (approx. MSEK 250) with a good EBIT margin.
Assa Abloy is continuing to build a strong pipeline of acquisitions to augment its technology expertise and increase its presence in specific verticals and regional markets.
This article was written by Daphne Tomlinson, Senior Research Associate at Memoori.