ASSA ABLOY acquires 3millID and Third Millennium in the US and the UK By Investing.com

STOCKHOLM, January 8, 2025 /PRNewswire/ — ASSA ABLOY has signed an agreement to acquire 3millID Corporation and Third Millennium Systems Ltd (“3millID and Third Millennium”), a reader and physical access control credential company based in the US and UK.

“I am very pleased to welcome 3millID and Third Millennium to the ASSA ABLOY Groupexciting technology additions that will strengthen our current offerings within physical access control and provide complementary growth opportunities,” he says Nico Delvauxpresident and chief executive officer ASSA ABLOY.

“Welcoming 3millID and Third Millennium to the HID family demonstrates our continued investment in core physical access control technologies. These acquisitions bring new opportunities to increase customer choice and relevance within our portfolio and will enhance our presence beyond United States“, says Björn Lidefelt, EVP and head of HID.

Founded in 2015 with headquarters in Highlands Ranch, Colorado3millID is a provider of proprietary access control reader solutions and technology-enabled products for business end users in the North America. Third Millennium, founded in 1996 with headquarters in Wales, UKis a provider of access control and software solutions for business and government end customers in the UK and Europewith strong own technological expertise.

Since 2015, the two companies have had a commercial partnership that includes technology development and sales. The two companies have a total of about 40 employees and will be part of HID’s Physical Access Control Solutions business area.

Sales for 2023 amounted to about 21 MUSD (approximately 220 MSEK) with a strong EBIT margin. The acquisition will be EPS accretive from the outset.

The acquisition is subject to customary closing conditions and is expected to close during the first quarter of 2025.

For more information, contact:

Nico Delvauxpresident and chief executive officer, tel. number: +46 8 506 485 82
Erik Pieder, financial director and executive vice president, tel. number: +46 8 506 485 72
Björn Tibell, Head of Investor Relations, tel. number: +46 70 275 67 68

About ASSA ABLOY

ASSA ABLOY Group is a global leader in access solutions. The group operates worldwide with 61,000 employees and sales of 141 billion crowns. The group has a leading position in areas such as efficient door opening, trusted identities and gate automation. of ASSA ABLOY innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

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https://news.cision.com/assa-abloy/r/assa-abloy-acquires-3millid-and-third-millennium-in-the-us-and-uk,c4088665

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