ASSA ABLOY enters into an agreement to sell Citizen ID

"I find it very satisfying that with TOPPAN, Citizen ID and its employees and customers get a committed long-term owner, creating new opportunities for the future and I wish them every success," says Nico Delvaux, President and CEO of ASSA ABLOY.

"Over the past decade, our team has created a highly reputable offering of physical and digital citizen identity solutions," said Björn Lidefelt, EVP and Head of HID. "I am pleased with the improved performance of our Citizen ID business, appreciative of our employees' contributions to HID and enthusiastic about their future success with TOPPAN."

The transaction will have a positive effect on ASSA ABLOY´s operating margin going forward. The capital result before taxes is expected to be insignificant.

The transaction is subject to customary closing conditions, regulatory approvals, and employee consultation and is expected to close during the first quarter of 2025.

For more information, please contact:
Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 61,000 employees and sales of SEK 141 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/assa-abloy/r/assa-abloy-enters-into-an-agreement-to-sell-citizen-id,c4053179

The following files are available for download:

View original content:https://www.prnewswire.co.uk/news-releases/assa-abloy-enters-into-an-agreement-to-sell-citizen-id-302280186.html