(BRIEF) ASSA ABLOY, a global leader in access solutions, announced its agreement to acquire Nomadix and Global Reach, leading providers of Wi-Fi access solutions and engagement platforms for the hospitality and real estate advertising industries in the United States and Kingdom. This strategic acquisition complements ASSA ABLOY’s existing offering in the hospitality sector by integrating Nomadix and Global Reach’s end-to-end generation platform, adding hardware, software and analytics tools, designed to securely connect and interact with consumers and devices. through Wi-Fi networks. ASSA ABLOY President and CEO Nico Delvaux expresses his enthusiasm for the acquisition, highlighting its prospects for the company’s position in the hospitality industry and creating complementary expansion opportunities. Stephanie Ordan, executive vice president and head of global technologies business unit, Global Solutions, plans to leverage the technical expertise of Nomadix and Global Reach to expand portfolio and end-to-end supply for the hospitality industry and related verticals. With sales reaching approximately $30 million in 2023 and a strong EBIT margin, the acquisition is expected to be EPS accretive from the outset, subject to standard closing conditions, and is expected to close in the second quarter of 2024.
(PRESS RELEASE) STOCKHOLM, March 27, 2024 – /EuropaWire/ – ASSA ABLOY has signed an agreement to acquire Nomadix and Global Reach, leading providers of Wi-Fi responses and engagement platforms for the hospitality and retail real estate sector. The corporations will offer a comprehensive generation platform of hardware, software, and analytics equipment to securely connect and interact with consumers and devices over Wi-Fi networks.
“I am very pleased to welcome Nomadix and Global Reach to the ASSA ABLOY Group. This acquisition is an exciting technology addition to the ASSA ABLOY Group and will expand our existing offering in the hospitality sector and provide new opportunities for expansion,” says Nico Delvaux, President. and CEO of ASSA ABLOY.
“Nomadix and Global Reach are wonderful additions to Global Solutions and, with their strong technical expertise, will expand our portfolio and end-to-end supply for our hotel business and adjacent verticals. I look forward to working with the experienced groups to continue this. a successful journey,” said Stephanie Ordan, Executive Vice President and Head of Global Technologies Global Solutions Business Unit.
Nomadix and Global Reach were founded in 1998 and have around 120 employees. The main offices are in Los Angeles and London. Nomadix and Global Reach operate as two separate entities under central control and ownership, and will be components of the Global Solutions Hospitality line of business. .
Sales for 2023 amounted to about $30 million (about three hundred million dollars) with a strong EBIT margin. The acquisition will increase earnings per share from the outset.
The acquisition is subject to standard final conditions and is expected to close in the second quarter of 2024.
About ASSA ABLOY
The ASSA ABLOY Group is a world leader in solutions. The organisation has a global presence with 61,000 employees and a turnover of SEK 141 billion. The Group holds leadership positions in spaces such as effective door openings, trusted identities, and access automation. ASSA ABLOY’s inventions enable safe and convenient physical and virtual locations. Every day, we help billions of people notice a more open world.
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SOURCE: ASSA ABLOY
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