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Assa Abloy

HID reportedly paid $60m for Lumidigm

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Wednesday, February 12, 2014

Updated 2/13/14

Identity solution provider HID this week made its second purchase in a month, buying fingerprint biometric provider Lumidigm.
In January,  HID announced that it had purchased IdenTrust, a provider of digital identities.

The Albuquerque Journal is reporting that HID paid more than $60 million for the biometric company. Through a spokesperson HID said that because this is a "private transaction" the company would not comment on the purchase price.

I was not able to speak to Jeff Kessler at Imperial Capital about the deal. (Imperial advised Lumidigm,) but I did get a look at a research brief Kessler published on Feb. 12, where he said this deal "continues to put distance between Assa Abloy’s HID Division and the competition in the way of interoperable, identity solutions for government and enterprise users."

Here's more from Kessler's brief:

In our opinion, Assa Abloy has made a concerted effort to become the undisputed leader in higher technology access control and identification solutions for not just enterprises and institutions, but for Government as well—the latter is an area in which it did not have a lot of traction until 2011. However, a series of acquisitions have turned the company into the leader in this segment from a revenue perspective. This is unlike Safran (which purchased L-1 in 2010), which is primarily involved in registration and border identification. The challenge remains for Assa Abloy and HID to integrate these acquired technologies and companies carefully, to let some of the more creative sectors provide both competitive advantage to Assa Abloy, yet still remain the leading providers of software and identity solutions to other companies in the industry as well.

Founded in 2001 and based in Albuquerque, N.M., Lumidigm has 33 employees. Its 2014 sales are expected to be $25 million, and the deal is expected to be accretive to earnings per share, according to HID parent company ASSA ABLOY.

Common problems with fingerprint biometrics include that fact that the technology will not work in harsh environments or when peoples’ fingers are dirty. In addition, some peoples’ fingerprints are simply not detectable. Lumidigm’s technology overcomes these problems, HID said, with its patented “multispectral imaging technology [that] uses multiple light spectrums and advanced polarization techniques to extract unique fingerprint characteristics from both the surface and subsurface of the skin.” The technology is also highly effective in detecting “imposter or ‘spoof’ fingerprints,” according to HID.  

Lumidigm’s products are used in verticals such as banking, healthcare, entertainment, and government services. HID is also interested in Lumidigm’s “premier global customer base,” HID CEO Denis Hebert said in a prepared statement.  

The opportunity for HID, according to a statement from Bob Harbour, executive chairman of Lumidigm is: “to apply multispectral imaging capabilities to credential acquisition and authentication, gesture recognition, and other image-based process control systems, making multi-factor authentication on a single, integrated device a reality.”

Genetec, ASSA ABLOY form strategic partnership

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08/22/2013

MONTREAL—A new partnership between VMS provider Genetec and ASSA ABLOY, manufacturer of access control systems and locks, will allow customers to use the two companies’ products together for a more complete view of their security systems, the companies said in a press re

ISC West Day 2: A new look at locks, and at home with radar

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Thursday, April 11, 2013

My second day at ISC West—Wednesday—was the first day the show floor opened. And among other things I learned from my visits to various booths was how to view locks from a new perspective.

For example, at the Kwikset booth, Stanley Black & Decker national account manager Brian Willis told me that as dealers work to convince homeowners to add home automation features to their security systems, “a lock is that transition piece.”  Kwikset is part of the Hardware and Home Improvement Group of Stanley Black & Decker.

The door locks that the California-based manufacturer makes serve as a bridge to home automation. For example, one of the many features of the 2nd Generation SmartCode deadbolt lock with Home Connect technology that Kwikset introduced at the show on Wednesday is its ability to integrate with home security and automation systems.

That means the lock can communicate with other wireless products in the home. For instance, Willis said, the lock can be set up so that if a smoke alarm in the house goes off, the door will automatically unlock. As Keith Brandon,Stanley Black & Decker director of residential access solutions, put it, such features “add value to consumers and dealers.”

Not surprisingly, ASSA ABLOY, a Sweden-based door opening solutions company, also was talking locks—a lot of them.

Martin Huddart, executive VP and CEO, said the company has launched 280 new products in the last three years. He said that typically 95 percent of a building’s doors require mechanical locks because they are low-risk entry points and 5 percent of the doors are high risk, so require more expensive access control.

But Huddart said ASSA ABLOY also has solutions for medium-risk entry points and he urged integrators to explore with their customers “matching the right level of technology with the risk.” He estimated about 15 percent of a building’s entry points might require those medium solutions.

Another highlight of my day was learning about a new form of residential security: radar. That’s the latest development from SpotterRF, which makes compact radar systems for military and commercial markets—and now for the residential market. SpotterRF, a company established in 2009 that has offices in Herndon, Va. and Orem, Utah, announced at ISC West that it has installed radar security at a luxury estate.

CEO Logan Harris told me that he can’t reveal much about the client for privacy reasons, but he said he believes the job was the first of more to come in the high-end luxury market. Installed was a 100-acre, 360-degree perimeter security system in just one day that cost about $12,000, he said.

Harris said that radar “gives you the capability of sticking on GPS tracker on someone without their actually knowing anything about it.”

Lenel, ASSA ABLOY form partnership

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04/08/2013

ROCHESTER, N.Y.—Lenel Systems, an access control software company, is teaming up with ASSA ABLOY, a door-opening solutions company based in Stockholm, Sweden, to offer an array of integrated lock systems to North American customers, according to a company statement.

ISC West: 150 companies to debut

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03/18/2013

NORWALK, Conn.—More than 170 new companies will make their debut on the ISC West show floor, according to a statement from the organization.

IR to shed security business

McManus: If well capitalized, spinoff could benefit security integrators
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12/12/2012

SWORDS, Ireland—Depending on how the new business is structured, conglomerate Ingersoll Rand’s decision to spin off its security products business could benefit integrators, Michael McManus, Imperial Capital managing director, told Security Systems News.

ASSA ABLOY buys Alarm Controls

Alarm Controls valued for customization, price point of products
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08/15/2012

STOCKHOLM, Sweden and DEER PARK, N.Y.—In acquiring Alarm Controls Corp., ASSA ABLOY is gaining a company that has the “ability and willingness to do custom work,” said Scott Baker, president of ASSA ABLOY Electro-Mechanical Specialties and OEM Group.

Integrators, specifiers, manufacturers mix at AMAG Technology SES

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04/03/2012

ST. PETERSBURG, Fla.—With about 90 consultants attending, the AMAG Technology Security Engineering Symposium, an educational and networking conference held here March 4-7, was the largest in the event’s 11-year history.

Taking it all in at ISC West

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Wednesday, March 28, 2012

Quite the first day for a first-timer at ISC West, and for a first-timer to Vegas to boot. Now I can understand what all the fuss was about leading up to the show.

Day One started with a “Meet the Editors” session at the SSN booth—No. 27065, stop by if you get a chance—which was followed by a full slate of media gatherings and meet-and-greets. Here were a few:

— I got the lowdown from ASSA ABLOY on what it’s doing to fill the “medium security” gap for access control, or components targeting the void between $200 and $4,000. The company sees a growth market there and is moving to take advantage.

— Bill Hobgood, project director for the Department of Information Technology, Public Safety Team, for the city of Richmond, Va., gave a firsthand account of what ASAP can do for speeding the flow of information between central stations and PSAPs. If you’re still holding on to the phone as the future, Richmond’s experience will change your mind.

— Chris Holbert, CEO of SecuraTrac, told me how the company’s new app, SecuraFone, disables social media sites when in motion—hello, distracted teens—along with immobilizing email and texting. Other features include physical tracking and more importantly, emergency response for seniors. SecuraTrac is teaming with Mace CS to expand along this avenue in the future.

— Bosch acknowledged the hectic pace of the day with a 5 p.m. session that featured a truck giveaway and happy hour refreshments, which turned out to be a real crowd-pleaser. A great way to end a long day on the floor.

My day isn’t done yet—I’m about the step out the door to attend a UCC cocktail party—and Day Two and Day Three await, so I’ll sign off for now. Much more ahead, hopefully with a decent night’s sleep to take it all in. The young and lively door-bangers in the room next door may have something to say about that, though. This is Vegas, after all …    

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