Assa Abloy Acquires Gesellschaft Für Sicherheitstechnik MbH

(RTTNews) - Assa Abloy AB (ASAZF), a provider of security solutions, Monday announced that it has acquired Gesellschaft für Sicherheitstechnik mbH, a tailored security solution. The financial terms were not disclosed.

Assa Abloy President and CEO Nico Delvaux said, "...our strategy to add complementary products and solutions to our core business"

GFS was established in 1977. The main office and factory are located in Hamburg, Germany.

Sales in 2024 were around 12 million euros or about 130 million Swedish kronor with a strong profit margin.

According to the statement, the acquisition will immediately increase earnings per share.

Friday, Assa Abloy had closed at $31.40.