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Salto Systems Access Control Business 2024 Examined

In this Research Note, we examine the Salto Systems business, based on their 2023 revenues, market expansion, product innovation, and a minority investment in an energy savings product for the hospitality sector. Founded in 2001 and headquartered in Oiartzun, Spain, Salto Systems is one of the market leaders in electronic locking and access control solutions across a broad range of industries and applications. It develops and manufactures hardware and software access control products, smart locker systems management, face recognition, visitor ID management, cashless payment and ticketing & booking solutions. The group has an international presence in 41 countries. Salto Ownership In 2020, Sofina took a minority stake in Salto, alongside existing shareholders such as Alantra and new investors such as Peninsula Capital and Florac, as part of a capital increase and a secondary transaction. The funds raised through this transaction allowed Salto to acquire Gantner Electronic Austria Holding GmbH, an Austrian company specialized in access […]

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In this Research Note, we examine the Salto Systems business, based on their 2023 revenues, market expansion, product innovation, and a minority investment in an energy savings product for the hospitality sector.

Founded in 2001 and headquartered in Oiartzun, Spain, Salto Systems is one of the market leaders in electronic locking and access control solutions across a broad range of industries and applications.

It develops and manufactures hardware and software access control products, smart locker systems management, face recognition, visitor ID management, cashless payment and ticketing & booking solutions. The group has an international presence in 41 countries.

Salto Ownership

In 2020, Sofina took a minority stake in Salto, alongside existing shareholders such as Alantra and new investors such as Peninsula Capital and Florac, as part of a capital increase and a secondary transaction.

The funds raised through this transaction allowed Salto to acquire Gantner Electronic Austria Holding GmbH, an Austrian company specialized in access systems, electronic locking and locker systems, cashless payment, and ticketing and management software for leisure facilities.

Financial investors hold a combined 30% stake, with the remainder retained by Salto’s founding members and managers (60%) and private investors (10%).

2023 Revenues

Salto Systems reported 2023 sales of €421 million (not yet audited) and 1,765+ employees in 41 countries, according to Sofina, one of its investors.

This corresponds to a 9.4% growth in revenues and a 17.7% growth in headcount compared to the previous year.

Rebranding & New Corporate Structure

In February 2024, Salto Systems unveiled the Salto Wecosystem, an umbrella platform which unifies their three core brands, Salto, Gantner and Vintia under one ecosystem:

  • Gantner builds smart identification, access, cashless payment and locker solutions that automate and digitize business processes to maximize organizational efficiency and security.
  • Salto develops facility access, identity management and electronic locking technology that ensures seamless, reliable and secure experiences.
  • Formerly known as Gantner Ticketing, Vintia creates scalable and comprehensive ticketing, booking, management and payment solutions for the leisure and attractions industry for a wide range of venues – including sport centres, visitor attractions, zoos, water parks, amusement parks, museums and cities.

Central to this transformation is the introduction of a new corporate structure designed to enhance agility, foster collaboration, and ensure efficient operations. Led by the new CEO, Marc Gomez, the revamped organization features the three core brands and four global teams (Sales & Marketing, Technology & Innovation, People & Global Services, and Cybersecurity).

Salto Systems 2024

Expansion of Market Presence in South East Asia

In June 2023, Salto unveiled its new Southeast Asia Headquarters and XSperience Centre as part of its 7-figure expansion plan in Singapore.

The 800 sq ft Salto XSperience Centre, which is part of a larger 3,000 sq ft headquarters space, will serve as an interactive focus point for business partners and end-users to experience SALTO Systems' intelligent building management and electronic locking technology first-hand.

In Singapore alone, SALTO has served over 500 prominent clients representing hospitality, working spaces, education facilities, and commercial industries.

Investment in Trustech & the Hospitality Sector

Salto has recently extended its investments beyond electronic locking and access control into energy efficiency. In line with Salto’s value proposition to differentiate itself through innovation and aesthetics, the group acquired a minority stake in Trustech in April 2024.

The Pordenone, Italy-based startup founded in 2023 has developed an innovative solution for the hospitality sector, a key vertical market for Salto.

Trustech have developed ZHEUS, the first Guest Room Management System (GRMS) that certifies through blockchain the amount of energy savings achieved, both by the GRMS system itself (through its own energy consumption optimization algorithms) and by the virtuous behavior of the hotel guest during their stay in the hotel guestroom.

The Zheus solution comprises ecometers, glass touchpoints, controllers, supervision software and outdoor access control panels.

With this tool, hotel management can visualize the amount of electrical and thermal energy saved, and the corresponding CO2 reduction within a given period of time.

All blockchain certified savings for each single energy saving session performed by each hotel guestroom around the world, feed a centralized energy saving calculator which then provides trustable and certified information on the real contribution of the ZHEUS ecosystem to sustainable development goals of the hotel group.

This investment shows Salto’s commitment to innovative smart building solutions which seek to enhance energy efficiency and sustainability while provide tangible economic advantages to building operators.

This article was written by Daphne Tomlinson, Senior Research Associate at Memoori.

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