The ASSA ABLOY Group has officially added another biometric solutions provider to its portfolio. The company announced that it has formally completed its acquisition of Biosite, a British company that specializes in access control technology for the UK construction industry.
Biosite was founded in 2010, and currently has around 140 employees working out of its headquarters in Solihull, UK. The company generated around £14 million (approximately $18.1 million) in 2019 sales.
ASSA ABLOY is hoping that the acquisition will increase its profile in the access control sector.
“Biosite is a strategic technological addition to the ASSA ABLOY Group,” said ASSA ABLOY President and CEO Nico Delvaux. “The company will reinforce our current offering within solutions for access control and will provide complementary growth opportunities.”
Biosite previously received £4 million in venture capital from Mobeus Equity Partners in 2016. ASSA ABLOY, meanwhile, is the parent company of HID Global. In all likelihood, Biosite’s technology is expected to complement the latter’s existing biometric portfolio.
ASSA ABLOY and HID Global have acquired several biometric solutions providers in the past few years. HID Global picked up the fingerprint biometric specialist Lumidigm in 2014, while ASSA ABLOY added Crossmatch to its roster in 2018.
Former ASSA ABLOY Chief Commercial Officer Björn Lidefelt recently took over as HID Global’s new President and CEO.
February 10, 2020 – by Eric Weiss