Assa Abloy to Buy South African Manufacturer of Security Communication Equipment
By Dominic Chopping
STOCKHOLM--Assa Abloy said Tuesday that it has agreed to buy Amecor, a South African manufacturer of security communication equipment.
Amecor was established in 1994 and has around 120 employees. The main office and factory are located in Johannesburg, South Africa.
Sales for 2022 amounted to about 270 million South African rand ($14.1 million) and the acquisition will be accretive to EPS from the start, the company said.
The acquisition is expected to close during the second quarter of 2024.
Financial terms weren't disclosed.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
January 23, 2024 08:54 ET (13:54 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening In the Markets This Week
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing
-
Going Into Earnings, Is Nvidia Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Arista Stock a Buy, a Sell, or Fairly Valued?
-
A Cheap Dividend Aristocrat to Buy Before It Bounces Back
-
Alibaba Earnings: More Positive Outlook Despite Mixed Results
-
After Earnings and a 56% Rally In 2024, Is Arm Stock a Buy, a Sell, or Fairly Valued?
-
How Morningstar Rates Stocks