Assa Abloy Buys German Manufacturer of Access Control Products
By Dominic Chopping
STOCKHOLM--Assa Abloy acquired Messerschmitt Systems, a German manufacturer of access control hardware and software for the hospitality market.
Messerschmitt Systems' sales for 2023 amounted to about 11 million euros ($11.8 million) and the acquisition will initially have a small dilutive effect on earnings per share, Assa Abloy said.
It was founded in 1985 and has some 100 employees. The main office is located in Schwaig, Germany.
The company's products include door locks activated by key card, phone or keypad and in-room controls for things like lighting, curtains and air conditioning.
Financial terms weren't disclosed.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
April 03, 2024 04:40 ET (08:40 GMT)
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