ASSA ABLOY has acquired Technology Solutions (TSL) in the UK, a global provider of radio frequency identification (RFID) handheld readers. TSL designs, develops and manufactures ruggedised mobile RFID readers and other multi-technology, mobile device peripherals used to identify and track products and assets.
"I am very pleased to welcome TSL into the ASSA ABLOY Group. TSL is a strategic technological addition to the ASSA ABLOY Group and reinforces our current RFID offering and provides complementary growth opportunities,” says Nico Delvaux, President and CEO of ASSA ABLOY.
Broad RFID portfolio
“The acquisition of TSL expands HID’s broad RFID portfolio with proven hardware and integration tools that extend our leadership in identification technologies,” says Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global.
TSL was founded in 1994 and has some 25 employees. The main office is located in Loughborough, UK. Sales in 2020 amounted to about MGBP 3 (approx. MSEK 30) with a good EBIT margin and the acquisition will be accretive to EPS from start.