ASSA ABLOY acquires Invengo´s Textile Providers enterprise unit in France

STOCKHOLM, March 3, 2021 / PRNewswire / – ASSA ABLOY has acquired the textile services business of Invengo Information Technology Co., Ltd, a leading real-time inventory management platform that combines software, RFID tags, devices and services to efficiently identify, track and manage linen and textile inventories monitor.

“Invengo Textile Services is a strategic technological addition to the ASSA ABLOY Group. The company strengthens our current offering within the global RFID ecosystem. The acquisition of Invengo Textile Services strengthens the group’s position within intelligent components and offers additional growth opportunities,” he says Nico Delvaux, President and CEO of ASSA ABLOY.

“The addition of Invengo Textile Services to the HID portfolio underscores our leading position as a solution enabler in the RFID market, especially in the fast-growing commercial laundry sector,” says Björn Lidefelt, Executive Vice President and Head of Global Technologies HID Global.

Invengo Textile Services (formerly Tagsys) was founded in 1993 and employs around 45 people. Headquarters in La Ciotat, Francebecomes part of HID’s Identification Technologies division.

Sales in 2020 were approximately MEUR 11 million (approximately SEK 110 million) and the acquisition will be EPS neutral from the start.

For more information, please contact:
Nico Delvaux
President and CEO
tel. No .: +46 8 506 485 82

Erik Pieder
CFO and Executive Vice President
tel. No .: +46 8 506 485 72

Bjorn Tibell
Head of Investor Relations
tel. No .: +46 70 275 67 68

About ASSA ABLOY

The ASSA ABLOY Group is a global leader in access solutions. The group is worldwide with 48,000 employees and sales of 88 billion SEK. The group holds leading positions in areas such as efficient door openings, trustworthy identities and entrance automation. ASSA ABLOY’s innovations enable secure and convenient access to physical and digital locations. Every day we help billions of people experience a more open world.

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https://news.cision.com/assa-abloy/r/assa-abloy-acquires-invengo-s-textile-services-business-unit-in-france,c3299255

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SOURCE ASSA ABLOY

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