STOCKHOLM–Sweden’s Assa Abloy AB (ASSA-B.SK) said Monday it has acquired U.S.-based Crossmatch, a provider of biometric identity management and secure authentication products.
Financial details weren’t disclosed, but the Swedish lock-maker said the acquisition will be accretive to EPS from start.
“Crossmatch is a strategic technological addition,” said Assa Abloy Chief Executive Nico Delvaux.
“The company reinforces our current offering within biometric identity management.”
Crossmatch was founded in 1996 and is headquartered in Palm Beach Gardens, Florida. It has around 270 employees. Sales for 2018 are expected to reach $125 million with a good earnings before interest and tax margin.
Crossmatch has been owned by Francisco Partners since 2012, a San Francisco private equity firm focused on the software and technology sectors. Crossmatch’s customers include the U.S. Department of Defense, Department of Homeland Security, U.S. State Department and various state and local governments as well as foreign governments and law enforcement agencies.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @domchopping @WSJNordics
Source : MTV
