Assa Abloy Acquires Teamware Malaysia -- Security Today

Assa Abloy Acquires Teamware Malaysia

Apr 28, 2015

Assa Abloy has signed an agreement to acquire Teamware, manufacturer of locks and hardware in the Malaysian market.

"I am very pleased that Teamware is joining the Assa Abloy Group," said Johan Molin, president and CEO of Assa Abloy. "Teamware is another major entry into the large and fast growing Malaysian market and will constitute another strategic move to grow market presence in the emerging markets."

"Teamware is a great addition to the Asia Pacific division," said Magnus Kagevik, executive vice president of Assa Abloy and head of division Asia Pacific. "The acquisition adds complimentary business channels and products to our existing Malaysian business. Teamware will also give us access to the fire door market in Malaysia where we see synergies with our market leading Chinese activity."

Teamware, established in 1999, is headquartered in Kuala Lumpur, Malaysia and has some 120 employees.

Sales for 2015 are expected to reach RM 100 M (approx SEK 240 M) with a good EBIT margin. The acquisition will be accretive to EPS from start.

The transaction is subject to regulatory approval and is expected to close during Q2 2015.

Featured

AI Used as Part of Sophisticated Espionage Campaign

A cybersecurity inflection point has been reached in which AI models has become genuinely useful in cybersecurity operation. But to no surprise, they can used for both good works and ill will. Systemic evaluations show cyber capabilities double in six months, and they have been tracking real-world cyberattacks showing how malicious actors were using AI capabilities. These capabilities were predicted and are expected to evolve, but what stood out for researchers was how quickly they have done so, at scale. Read Now
- Artificial Intelligence
Why the Future of Video Security Is Happening Outside the Cloud

For years, the cloud has captivated the physical security industry. And for good reasons. Remote access, elastic scalability and simplified maintenance reshaped how we think about deploying and managing systems. Read Now
- Video Surveillance
UL Solutions Launches Artificial Intelligence Safety Certification Services

UL Solutions Inc., a global leader in safety science, today announced the launch of artificial intelligence (AI) safety certification services, enabling comprehensive assessments for evaluating the safety of AI-powered products. Read Now
- Artificial Intelligence
ESA Announces Initiative to Introduce the SECURE Act in State Legislatures

The Electronic Security Association (ESA), the national voice for the electronic security and life safety industry, has announced plans to introduce the SECURE Act in state legislatures across the country beginning in 2025. The proposal, known as Safeguarding Election Candidates Using Reasonable Expenditures, provides a clear framework that allows candidates and elected officials to use campaign funds for professional security services. Read Now
- Guard Services
Ransomware Attacks Rise for the First Time in Six Months

Ransomware attacks have risen for the first time in six months, increasing by 28% month-on-month to 421 attacks. While overall attack volume remained below 500, the uptick may signal a renewed escalation heading into the year’s most active period for cyber criminals. Read Now
- Cybersecurity

Security Today eNews

Sign up today for essential industry news and product information that can help you stay afloat in the fast-paced world of security.

Email Address*Country*

Please type the letters/numbers you see above.

Webinars

Whitepapers

New Products

Camden CM-221 Series Switches

Camden Door Controls is pleased to announce that, in response to soaring customer demand, it has expanded its range of ValueWave™ no-touch switches to include a narrow (slimline) version with manual override. This override button is designed to provide additional assurance that the request to exit switch will open a door, even if the no-touch sensor fails to operate. This new slimline switch also features a heavy gauge stainless steel faceplate, a red/green illuminated light ring, and is IP65 rated, making it ideal for indoor or outdoor use as part of an automatic door or access control system. ValueWave™ no-touch switches are designed for easy installation and trouble-free service in high traffic applications. In addition to this narrow version, the CM-221 & CM-222 Series switches are available in a range of other models with single and double gang heavy-gauge stainless steel faceplates and include illuminated light rings.
Automatic Systems V07

Automatic Systems, an industry-leading manufacturer of pedestrian and vehicle secure entrance control access systems, is pleased to announce the release of its groundbreaking V07 software. The V07 software update is designed specifically to address cybersecurity concerns and will ensure the integrity and confidentiality of Automatic Systems applications. With the new V07 software, updates will be delivered by means of an encrypted file.
AC Nio

Aiphone, a leading international manufacturer of intercom, access control, and emergency communication products, has introduced the AC Nio, its access control management software, an important addition to its new line of access control solutions.