ASSA ABLOY, the global leader in door opening solutions, has signed an agreement to acquire SimonsVoss Technologies AG.
In the future, SimonsVoss will be organized within ASSA ABLOY's ‘Global Technologies Division' as a separate business unit and under the leadership of its current and well-established management team.
Fully committed to this endeavour, the Executive Committee of SimonsVoss Technologies AG very much welcomes this step, which will enduringly foster the company, above all in the development of international markets.
SimonsVoss Technologies AG develops, manufactures and markets wireless electronic locking and access control systems for public and commercial buildings. Headquartered in Unterfoehring in the Munich area and employing a staff of 225 persons, the company is a leader in the rapidly growing market for wireless digital locking and access control systems.
The acquisition is subject to regulatory approvals. The transaction is expected to close during the first half of 2008.
