Assa Abloy: buys French identity group Arjo Systems.
(CercleFinance.com) - Swedish lock group Assa Abloy said on Tuesday it had agreed to buy French company Arjo Systems, a provider of physical and digital identity solutions for secure government ID applications.
The Stockholm-based company describes an "exciting technological addition" that will enhance the group's position within government ID and will provide complementary growth opportunities.
Arjo was founded in 2011 and has some 100 employees, with operations in France, Italy and Hong Kong.
Sales for 2017 are expected to reach 56 million euros, with the acquisition set to have an accretive impact on earnings from the start.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The Stockholm-based company describes an "exciting technological addition" that will enhance the group's position within government ID and will provide complementary growth opportunities.
Arjo was founded in 2011 and has some 100 employees, with operations in France, Italy and Hong Kong.
Sales for 2017 are expected to reach 56 million euros, with the acquisition set to have an accretive impact on earnings from the start.
Copyright (c) 2017 CercleFinance.com. All rights reserved.