Assa Abloy: sells identity documents subsidiary

(CercleFinance.com) - Assa Abloy announced on Friday the sale of Citizen ID, the government ID documents subsidiary of its HID secure identification solutions branch.


Citizen ID, which has annual sales of around E114m and a workforce of 450 spread over several production sites in Ireland, Malta and the US, is to be sold to the Japanese company Toppan.

Assa Abloy states that the transaction will have a positive effect on its operating margin, but will have an insignificant impact in terms of capital gains.

The transaction is expected to close in Q1 2025.


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