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ASSA ABLOY announces acquisition of CEDES in Switzerland.

NORDIC BUSINESS REPORT-December 21, 2015-ASSA ABLOY announces acquisition of CEDES in Switzerland

(C)2015 M2 COMMUNICATIONS http://www.m2.com

ASSA ABLOY (STO:ASSAB), a provider of door opening solutions, announced today the signing of an agreement to acquire the Swiss company CEDES, a company offering sensor technology to the door and elevator industry.

Financial details of this acquisition were not available. CEDES' sales for 2016 are expected to reach approximately SEK510m, with a good EBIT margin.

According to ASSA ABLOY, CEDES represents an important step in the strategy of adding more intelligence within entrance automation.

Also, CEDES' competence, experience and product offering in the sensor field is a strong addition to the company's current product portfolio and will lead to highly innovative and integrated solutions combining different technologies that will create new customer benefits, the company added.

This acquisition is expected to be accretive to EPS from start.

This transaction is expected to close during Q1 2016.

(EUR1.00=SEK9.28)

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Publication:Nordic Business Report
Article Type:Brief article
Geographic Code:4EXSI
Date:Dec 21, 2015
Words:173
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