ASSA ABLOY has acquired LifeSafety Power, a supplier of smart integrated access control power solutions for OEMs, integrators and end-users.
In a statement, Nico Delvaux, President and CEO of ASSA ABLOY said: "I am very pleased to welcome LifeSafety Power into the ASSA ABLOY Group. LifeSafety Power constitutes a strategic addition to the Group and reinforces our position in access control solutions."
"LifeSafety Power is a great complement to our access control portfolio – we are looking forward to incorporating their knowledge of power supply as well as power consumption throughout our access control portfolio," added Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division.
LifeSafety Power was established in 2009, has some 65 employees and is headquartered in Libertyville, Ill. Sales for 2019 are expected to reach about $30 million.
“We’re excited about the acquisition and the opportunity to continue to innovate under the strength of ASSA ABLOY,” said Larry Ye, President and Chief Executive Officer of LifeSafety Power. “This is an important and critical step in the ongoing expansion of our company and our drive to offer the latest networking developments to the industry. With this acquisition, we will complement the access control portfolio provided by ASSA ABLOY, but will keep our uniqueness, which has brought us success and is part of our DNA. We will continue to be nimble in addressing the needs of the industry and our customers—and the secret sauce that brought LifeSafety Power to this pivotal point will remain.”
Terms of the deal were not disclosed.