Assa Abloy buys biometric access control developer Biosite, receives SIA award
Assa Abloy has purchased biometric access solution developer Biosite for an undisclosed amount, the company announced.
“I am very pleased to welcome Biosite and their employees into the Assa Abloy group. Biosite is a strategic technological addition to the Assa Abloy group. The company will reinforce our current offering within solutions for access control and will provide complementary growth opportunities,” said Nico Delvaux, president and chief executive of Assa Abloy. “Biosite offers biometric access – and workforce management solutions to the construction sector; maximizing security and safety whilst providing full visibility to material-, design plans- and people flow on the construction site.”
Established in 2010, Biosite provides biometric access to construction sites, has a team of 140 people and reported sales of some £14 million (US$18 million).
Mobeus, Biosite’s initial partner, invested some £5.75 million (US$7.5 million) in 2016 to help scale the company and establish an executive team focused on product innovation.
“It’s been a privilege to work with Li and the team to help Biosite achieve its ambition to become the complete site management tool of choice for the construction industry,” said Amit Hindocha, Mobeus investment partner. “We are very pleased the team has found such a great fit with Assa Abloy and are confident they will continue to deliver on the next stage of their growth journey.”
Biosite received guidance from PwC on the negotiation.
“Biosite is an exceptional fast growth business, as recognized in the Sunday Times Tech Track 100, run by an exceptional management team and we look forward to seeing the business thrive during its next growth phase with support from Assa Abloy,” said PwC Midlands director Ian Birch.
Assa Abloy has received the 2020 Member of the Year Award from the Security Industry Association, recognizing the company’s leadership and involvement in SIA-related projects and events. The company will be presented with the award at The Advance, SIA’s annual membership meeting, during ISC West.
Assa Abloy regularly sponsors SIA events such as Market Leaders Reception at ISC West, SIA GovSummit and Securing New Ground, and has greatly contributed with content to the SIA Center of Excellence and SIA Technology Insights.
“SIA is proud to honor ASSA ABLOY as the 2020 SIA Member of the Year and applauds the company for its invaluable engagement, thought leadership efforts and contributions to SIA, our members and the security industry overall,” said Scott Schafer, chairman of the SIA Board of Directors in a statement. “Thanks in large part to the outstanding support of members like ASSA ABLOY, SIA is able to continue building on its robust suite of resources, programming and education and training offerings to better serve our members and the industry.”
The Advance will take place during ISC West 2020 on Tuesday, March 17, from 10:30 to 11:30 a.m. in the Sands Convention Center in Las Vegas, Nevada.
access control | acquisitions | Assa Abloy | biometrics | Biosite | construction | Security Industry Association (SIA) | workforce management