Vanderbilt on Wednesday announced that it has entered into an agreement to acquire Access Control Technology (ACT) Ltd., based in Dublin, Ireland. In a statement, Vanderbilt said the purchase would enhance their strategic expansion plans for strengthening its access control business and product portfolio.
ACT was formed in 1995 and specializes in the design and manufacture of electronic access control, video management, and door entry systems. In addition to its headquarters in Dublin, the company also has an office in Manchester, UK, and an active distribution network that includes Europe, Asia, the Middle East, with plans to enter the North American market.
Vanderbilt CEO Joseph Grillo said that the transaction will continue to expand Vanderbilt’s competitive position in a highly fragmented market with great growth potential. "The acquisition of ACT boosts Vanderbilt’s reach in the access control market and enhances our product portfolio with the addition of a cloud-based access control system and a tightly integrated VMS," explained Grillo. "With the integration of the Siemens business complete, it was time to look at new opportunities."
"We are pleased to have the opportunity to be part of a larger and strong international organization which will open exciting new market opportunities for the ACT product range,” said ACT Managing Director David Tymlin. “In the course of just a few years, Vanderbilt has established itself as a fast-growing market leader and we recognized a wonderful opportunity to become part of their future success.”
Financial details of the transaction were not released. The transaction is expected to close in the fourth quarter of 2016.
