Assa Abloy Buys Ghost Controls

(RTTNews) - Assa Abloy AB (ASAZF.PK), a Swedish manufacturing major, said on Thursday that it has acquired Ghost Controls, a supplier of automated residential gate openers.

Post-transaction, the acquisition will be accretive to the earnings per share of Assa Abloy.

Massimo Grassi, Executive Vice President of ASSA ABLOY, said: "Ghost Controls impressive development within the residential gate automation industry and their strong culture of innovation make them a very good complement to our core business."

For 2022, Tallahassee, Florida-based Ghost Controls had reported sales of $30 million or SEK 300 million with a strong EBIT-margin.