ASSA ABLOY's Acquisition of Indala Completed.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Nov. 1, 2001 ASSA ABLOY The ASSA ABLOY Group is a Swedish company. The group is the world's leading manufacturer and supplier of locks. ASSA ABLOY was formed in 1994 when ASSA Ab was detached from Swedish security firm Securitas AB. -- Motorola's RFID business Indala is a well regarded player in the access control industry -- Indala has sales of approximately USD 25 M with low profitability -- Considerable synergies with HID's operation -- Installed base of 60 million cards and 1 million readers -- The acquisition is expected to be EPS positive from the start The acquisition of Motorola's worldwide assets of the radio-frequency identification (RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. ) 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 San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. . 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 USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 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 (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. 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 SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 20 billion (approximately USD 2 billion) and the number of employees is more than 25,000. |
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