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ASSA ABLOY Buys Traka - Quick Facts

Swedish lockmaker ASSA ABLOY AB (ASAZF.PK) said it has acquired Traka Plc in the UK. The acquisition is earnings per share accretive from start.

Johan Molin, President and CEO of ASSA ABLOY, said, "..With the addition of Traka we will add advanced locking technologies and solutions to our strategic global product portfolio."

"Traka's leading technologies and solutions will provide us with access to new markets in the UK where we are not active today and will enhance our offering in other regions...," said Tzachi Wiesenfeld, Executive Vice President of ASSA ABLOY and Head of the EMEA Division.

The deal was closed simultaneously with signing on April 6, 2012.

by RTTNews Staff Writer

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