"Mercury Security is a strategic technological addition to the Assa Abloy Group. The company reinforces our current offering, where Mercury Security considerably enhances the Group's position within physical access control and will provide complementary growth opportunities,” says Johan Molin, President and CEO of Assa Abloy.

“The acquisition of Mercury Security will advance HID‘s global leadership in the physical access control industry, adding Mercury Security’s high-quality controllers to HID’s product portfolio while extending HID’s installed base of millions of users beyond the readers and smart cards that we are already well known for,” says Stefan Widing, President and CEO of HID Global.

ACRE CEO Joseph Grillo stated, “Divesting Mercury after many years of success since ACRE purchased the business in 2013 is a strategic move that allows ACRE to focus on its core access control, video and intrusion businesses under the Vanderbilt and Comnet brands. HID is the perfect home to provide for the continued growth and success of Mercury, which will remain a valued technology supplier to Vanderbilt.”

Mercury Security was founded in 1992. It is headquartered in Long Beach, California and has some 45 employees.

Sales for 2017 are expected to reach USD 60 million (approx. SEK 500 million) with a good EBIT margin. The acquisition will be accretive to EPS from start.

The transaction is conditional upon regulatory approval and satisfaction of customary closing conditions and is expected to close during the fourth quarter of 2017.