Assa Abloy AB (ASAZF.PK), a Swedish manufacturing conglomerate, announced on Wednesday that it has signed a deal to acquire Nomadix and Global Reach, the U.S. and UK-based providers of Wi-Fi access and engagement platform solutions for the hospitality and commercial real estate industry.
The acquisition, expected to be completed in the second-quarter, will be accretive to earnings per share of Assa Abloy from the beginning.
Nico Delvaux, CEO of Assa Abloy, said: "This acquisition is an exciting technological addition to the Assa Abloy Group and will reinforce our current offering within the hospitality business, and provide complementary growth opportunities."
The company noted that Nomadix and Global Reach are excellent additions to Global Solutions and to boost end-to-end offering its hospitality business and adjacent verticals.
Nomadix and Global Reach were founded in 1998 with the main offices in Los Angeles and London. They operate as two separate entities under a central top management and ownership.
With sales of $30 million for 2023, the companies offer a tech platform of hardware, software, and analytics tools to connect and engage with customers and devices via Wi-Fi networks.
For comments and feedback contact: editorial@rttnews.com
Business News