ASSA ABLOY buys in Netherlands
STOCKHOLM—ASSA ABLOY will acquire IAI industrial systems B.V., and its subsidiaries, from its parent company DOCDATA N.V.
IAI specializes in security printing solutions for government ID, bank notes and other security solutions. "IAI is an important technological addition to the ASSA ABLOY Group. The company complements our current offering within secure identity solutions,” ASSA ABLOY president and CEO Johan Molin said in a prepared statement.
“The acquisition of IAI considerably enhances the group’s position within government ID and will provide complementary growth opportunities,” Molin said.
IAI was established in 1990 and has about 85 employees. The company is headquartered in Veldhoven, Netherlands, where it will maintain its operations. Sales for 2016 are expected to reach $21.8 million. The transaction is subject to regulatory approval and is expected to close during Q4 2015.