Assa Abloy: sale of 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 114 million euros and a workforce of 450 spread over several production sites in Ireland, Malta and the USA, 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 the first quarter of 2025.

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