The acquisition of Motorola's worldwide assets of the radio-frequency identification (RFID) access control business, Indala, has now been completed.
Indala is a highly regarded player in the access control industry, with headquarters in San Jose, California. The company was founded in 1985 and acquired by Motorola in 1993. The product offering is to a large extent the same as HID's, consisting of RFID based cards and readers for the access control industry and other applications. The installed base of Indala products is substantial with 60 million cards and 1 million readers installed. The RFID access control business is expected to turn over USD 25 M this year with low profitability.
The acquisition creates good scope for synergies in all areas. The goodwill created by the acquisition is minimal and will be tax deductible. The acquisition will be EPS positive from the start.
The Indala business will be consolidated from 1 November 2001.
The ASSA ABLOY Group is the world's leading manufacturer and supplier of locking solutions,
dedicated to satisfying end-user needs for security, safety and convenience. Current sales for the Group are in excess of
SEK 20 billion (approximately USD 2 billion) and the number of employees is more than 25,000.
ASSA ABLOY is the global leader in door opening solutions and offers mecahnical and electromechanical locks, digital door locks, security doors, entrance automation, hotel security and secure identity solutions, primarily in identity and access management, as well as a number of other related products and services.
Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international Group with some 47,500 employees operating in more than 70 countries and sales of SEK 76 billion.