Swedish door security solutions provider Assa Abloy AB (ASS.L) on Monday announced its decision to acquire JOTEC Service & Vertriebsges.mbh, an industrial door distributor and service company in Germany.
The financial terms of the deal have not been disclosed.
Assa Abloy said it expects the acquisition, scheduled to be concluded in the second quarter of 2022, to add to its EPS from the start.
JOTEC had sales of about 19 million euros in 2021.
"The acquisition of JOTEC delivers on our strategy to reinforce our current offering within entrance automation," says Nico Delvaux, President and CEO of ASSA ABLOY.
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