ASSA ABLOY Entrance Systems acquires Swiss sensor company

ASSA ABLOY has signed an agreement to acquire the Swiss company CEDES, a leading company in sensor technology to the door and elevator industry.

"CEDES is a strategic acquisition for ASSA ABLOY Entrance Systems and an important step in adding more intelligence within entrance automation”, says Juan Vargues, Executive Vice President of ASSA ABLOY and President ASSA ABLOY Entrance Systems. "CEDES competence, experience and product offering in the sensor field is a strong addition to our current product portfolio and will lead to highly innovative and integrated solutions combining different technologies, creating new benefits for our customers”.

CEDES’s sales for 2016 are expected to reach CHF 60 million (approx. SEK 510 million) with a good EBIT margin. The transaction is expected to close during Q1 2016.