ASSA ABLOY acquires German firm Kentix, fueling digital security expansion
ASSA ABLOY AB said Thursday it has acquired Kentix GmbH, a German manufacturer of monitoring and access control products for data centers, continuing its strategy of expanding through acquisitions.
Financial terms of the deal were not disclosed.
Kentix had sales of about 8 million euros in 2024, and the acquisition will be accretive to earnings per share from the start, the company said.
"This acquisition delivers on our strategy to add complementary products and solutions to our core business,” said Nico Delvaux, President and CEO of ASSA ABLOY.
The deal is the latest in a series for the world's largest lockmaker as it pushes further into digital and cloud-based security.
In August, the company bought U.S.-based SiteOwl, a cloud platform for managing physical security systems.
Acquisitions have been a key growth driver for Assa Abloy, contributing 5% to net sales in the second quarter, outpacing the company's 3% organic growth.
Kentix, founded in 2008, has about 40 employees and is based in Idar-Oberstein, Germany.
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