“I am very pleased to be joining Traka and ASSA ABLOY. KEYper will be able to accelerate its product and market development and is looking forward to engaging with the wider Traka and ASSA ABLOY organization to share knowledge and expertise.” - Ric Stone, CEO of KEYper Systems
ORLANDO, Fla. (PRWEB) January 15, 2019
ASSA ABLOY has signed an agreement to acquire KEYper Systems, a leading supplier of electronic and mechanical key management systems in the US, with a strong presence in the automotive segment. KEYper was established in 1993 and operates from its HQ in Harrisburg, NC.
KEYper Systems will become a separate business unit of Traka, which is the global leader in key and asset management, and an operating unit of ASSA ABLOY Global Solutions. Ric Stone, President of KEYper, will report to Justin Sasse, Managing Director of Traka.
“KEYper’s product range and expertise, especially in the US automotive and property management market segments, will complement Traka’s extensive product range and specialist solutions in key and asset management globally. This acquisition will allow us to leverage Traka’s technology to further develop KEYper’s offering to its existing customers, and widen the product range globally for Traka in all of our market segments,” says Sasse.
"This transaction provides us the opportunity to further strengthen our position in the industry, while advancing Traka’s strategy to increase its presence in core markets globally," agrees Danny Garrido, President of Traka Americas. "Traka and KEYper are an excellent strategic fit. We have highly complementary product and service offerings, strong sales and marketing organizations and a shared dedication to quality customer service - we expect this combination to result in an even more effective and successful Traka."
“I am very pleased to be joining Traka and ASSA ABLOY. KEYper will be able to accelerate its product and market development and is looking forward to engaging with the wider Traka and ASSA ABLOY organization to share knowledge and expertise,” says Ric Stone, CEO of KEYper Systems.
The acquisition is conditional upon satisfaction of customary legal conditions and is expected to complete during the first quarter of 2019.
For more information, please contact:
Justin Sasse, MD Traka, ASSA ABLOY Global Solutions: contact no: +44 1234 712345
Danny Garrido, President Traka Americas, ASSA ABLOY Global Solutions: contact: +1 877 3487252
About ASSA ABLOY
ASSA ABLOY is the global leader in door opening solutions, dedicated to satisfying end user needs for security, safety and convenience. Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international group with about 47,500 employees, operations in more than 70 countries and sales of SEK 76 billion. In the fast-growing electromechanical security segment, the Group has a leading position in areas such as access control, identification technology, entrance automation and hotel security.