Assa Abloy: acquisitions in professional Wi-Fi

(CercleFinance.com) - Assa Abloy announced on Wednesday that it had reached an agreement to acquire Nomadix of the US and Global Reach of the UK, two Internet service providers for hotels and commercial premises.


The Swedish access solutions giant explains that these companies offer a technological platform enabling customers of hotels and commercial establishments to connect securely to their Wi-Fi networks.

CEO Nico Delvaux explains that the deal will enable the locksmith group to strengthen its offering for hotels.

Although they are two very distinct entities, Nomadix and Global Reach have the same management team and the same shareholder base.

Founded in 1998, the companies employ about 120 people and generated combined sales of around $30m last year.

The acquisition, which will be accretive from the outset, is expected to be finalised by the end of June.


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