ASSA ABLOY acquires Nomadix and Global Reach

STOCKHOLM – ASSA ABLOY has signed an agreement to acquire Nomadix and Global Reach, U.S. and UK-based providers of Wi-Fi access and engagement platform solutions for the hospitality and commercial real estate industry.The companies offer a comprehensive tech platform of hardware, software and analytics tools to securely connect and engage with customers and devices via Wi-Fi networks."I am very pleased to welcome Nomadix and Global Reach into the ASSA ABLOY Group. This acquisition is an exciting technological addition to the ASSA ABLOY Group and will reinforce our current offering within the hospitality business, and provide complementary growth opportunities,” said Nico Delvaux, president and CEO of ASSA ABLOY.“Nomadix and Global Reach are excellent additions to Global Solutions and will with their strong technical expertise expand our portfolio and end-to-end offering for our hospitality business and adjacent verticals. I look forward to working with the experienced teams to continue the successful journey,” noted Stephanie Ordan, executive vice president and head of global technologies business unit Global Solutions.Nomadix and Global Reach were founded in 1998 and have an estimated 120 employees. The main offices are located in Los Angeles and London. Nomadix and Global Reach operate as two separate entities under a central top management and ownership, and will be part of Global Solutions business area Hospitality. “We are thrilled to become part of such a prestigious company as ASSA ABLOY Global Solutions. Our strategic objectives of providing secure, personalized authentication and access to venues, properties, and transportation align well with those of ASSA ABLOY Global Solutions. We look forward to working together to help large global brands and venues connect visitors to their world,” added Ted Helvey, CEO & chairman of Nomadix and GlobalReach.Sales for 2023 amounted to about MUSD 30 (approx. MSEK 300) with a strong EBIT margin. The acquisition will be accretive to EPS from the start.The acquisition is subject to customary closing conditions and is expected to close during the second quarter of 2024.