Tag: U.S. Department of Justice (DOJ)
ASSA ABLOY reaches settlement with U.S. Department of Justice
May 6, 2023Ken Showers, Managing Editor
WASHINGTON, D.C. – Global access solutions provider ASSA ABLOY has resolved its lawsuit with the U.S. Department of Justice (DoJ), paving the way forward for its acquisition of Spectrum Brands’ Hardware and Home Improvement division (“HHI”).
On May 5 the company reached a settlement with the DoJ that will see ASSA ABLOY move forward with its divestment of Emtek and the Smart Residential business in the U.S. and Canada to Fortune Brands. At the time ASSA...
U.S. Marshals suffer ransomware breach containing personal data
February 28, 2023Ken Showers, Managing Editor
WASHINGTON, D.C. – The U.S. Marshals Service (USMS) suffered a cybersecurity data breach in February, affecting what it referred to as “sensitive personal data.”
First reported by NBC News, USMS spokesperson Drew Wade, chief of the Office of Public Affairs, told the outlet that a ransomware attack occurred and constituted a major incident. The breach occurred on Feb. 17, according to Wade, and was limited to a “stand-alone USMS System." An investigation revealed that...
FBI infiltrates and disrupts Hive ransomware network
January 27, 2023Ken Showers, Managing Editor
WASHINGTON, D.C. – Diligence has paid off for the Federal Bureau of Investigations (FBI) as it revealed the results of a months-long disruption campaign against a ransomware group.
In a press conference on Jan. 26, the U.S. Department of Justice (DoJ) announced their successful penetration into the group whose targets included hospitals, school districts, and other critical infrastructure. “We are here to announce that last night, we dismantled an international ransomware network responsible...
ASSA ABLOY completes sale of Emtek and Smart Residential toward HHI acquisition
December 2, 2022SSN Staff
YARMOUTH, Maine – On Dec. 2 ASSA ABLOY announced that it has entered into binding agreements with Fortune Brands Home & Security with regard to the sale of its Emtek and Smart Residential businesses.
Following ASSA ABLOY’s bid to acquire Spectrum Brands HHI (Home and Hardware Improvement) division, the U.S. Department of Justice (DoJ) filed an antitrust lawsuit to block it on Sept. 15, 2022. As part of efforts to clear a path for the acquisition ASSA ABLOY moved to divest...
Assa Abloy shows growth in Q3, commits to HHI acquisition
October 28, 2022Ken Showers, Managing Editor
STOCKHOLM – This week lock maker and security giant Assa Abloy presented its Q3 financial results, with strong growth despite signs of a market slowdown.
The conference call opened with remarks from Assa Abloy President, CEO & Head, Global Technologies Division Nico Delvaux. The company experienced an organic sales growth of 14 percent which Delvaux credited to Entrance Systems and the America’s contributions, as well as Global Technologies. Net sales have increased 33 percent with...
ASSA ABLOY issues official response to U.S. Department of Justice
October 17, 2022Ken Showers, Managing Editor
WASHINGTON – Following a complaint filed by the U.S. Department of Justice (DoJ) blocking ASSA ABLOY's acquisition of Spectrum Brands' Holding Hardware and Home Improvement division, the company issued its response to the DoJ on Oct. 14, 2022.
ASSA ABLOY confirmed that it has initiated the sales process for Emtek Products and their Smart Residential (Yale) business in the U.S. and Canada. ASSA ABLOY said that it is “vigorously contesting”...
ASSA ABLOY acquires Germany-based maker of DoorBird
October 7, 2022SSN Staff
STOCKHOLM—ASSA ABLOY announced it has acquired Bird Home Automation GmbH, a German manufacturer of high-quality IP door intercoms for single and multi-family buildings, and for indoor station or smartphone control, marketed under the trademark DoorBird.
Terms were not disclosed.
"I look forward to welcoming DoorBird and their employees into the ASSA ABLOY Group,” said Nico Delvaux, President and CEO of ASSA ABLOY. “DoorBird is a strategic technological addition to the...
Canadian hacker sentenced in NetWalker ransomware attacks
October 6, 2022Ken Showers, Managing Editor
TAMPA – A Canadian man from Quebec involved in the NetWalker ransomware attacks was charged for his crimes in a federal court in Florida this week.
Thirty-five-year-old Sebastian Vachon-Desjardins was implicated in the attacks perpetrated by the Russian cyber gang early last year. The NetWalker attacks targeted dozens of victims across the globe and by August in 2020 had raked in at least $25 million from ransoms. Vachon-Desjardins was captured in January 2021 during an operation where police...
A Lack of Trust
September 28, 2022Ken Showers, Managing Editor
Last week I wrote a story about the anti-trust lawsuit filed by the U.S. Department of Justice (DOJ) against Swedish company Assa Abloy to prevent their acquisition of the hardware and home improvement division of Spectrum Brand Holdings.
To give you an idea of the tone for this blog my other titles were, “Passing Go” and “Hungry, Hungry Hippos”.
Preaching a parable about corporate greed would be misplaced in a B2B focused publication however, so I would instead...
DoJ sues to stop Assa Abloy acquiring Spectrum Brands' Home & Hardware division
September 23, 2022Ken Showers, Managing Editor
WASHINGTON, D.C. – The U.S. Department of Justice (DoJ) has filed an antitrust lawsuit to block the proposed acquisition of Spectrum Brands' Holdings Home and Hardware Improvement division by its rival, Swedish conglomerate Assa Abloy.
Assa Abloy and Spectrum make two out of three of the largest players in the residential door hardware community, an industry sector worth roughly $2.4 billion. In their complaint the DoJ alleged that the acquisition would eliminate...