Assa Abloy has entered into a definitive agreement with Docdata N.V. to acquire IAI Industrial Systems B.V. and its subsidiaries (“IAI”), a leading Dutch company specialising in security printing solutions for government ID, bank notes and other security solutions. “IAI is an important technological addition to the Assa Abloy Group. The company complements our current offering within secure identity solutions. The acquisition of IAI considerably enhances the Group’s position within government ID and will provide complementary growth opportunities,” says Johan Molin, President and CEO of Assa Abloy.
“The addition of the IAI portfolio to HID’s expertise in the field of secure identity documents sets HID apart in the industry as the only company offering a full range of both identity card and passport personalisation solutions coupled with the production of high-quality, high-security documents.”, says Stefan Widing, Executive Vice President Assa Abloy and Head of business unit HID Global.
IAI was established in 1990 and has some 85 employees. The company is headquartered in Veldhoven, Netherlands, where it will maintain its operations.
Sales for 2016 are expected to reach EUR 20 million (approx. SEK 185 million). The acquisition will be slightly accretive to EPS from start.
