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

  • Integration Imagination: The Future of Connected Operations

    Security teams that collaborate cross-functionally and apply imagination and creativity to envision and design their ideal integrated ecosystem will have the biggest upside to corporate security and operational benefits. Read Now

  • Smarter Access Starts with Flexibility

    Today’s workplaces are undergoing a rapid evolution, driven by hybrid work models, emerging smart technologies, and flexible work schedules. To keep pace with growing workplace demands, buildings are becoming more dynamic – capable of adapting to how people move, work, and interact in real-time. Read Now

  • Trends Keeping an Eye on Business Decisions

    Today, AI continues to transform the way data is used to make important business decisions. AI and the cloud together are redefining how video surveillance systems are being used to simulate human intelligence by combining data analysis, prediction, and process automation with minimal human intervention. Many organizations are upgrading their surveillance systems to reap the benefits of technologies like AI and cloud applications. Read Now

  • The Future is Happening Outside the Cloud

    For years, the cloud has captivated the physical security industry. And for good reason. Remote access, elastic scalability and simplified maintenance reshaped how we think about deploying and managing systems. But as the number of cameras grows and resolutions push from HD to 4K and beyond, the cloud’s limits are becoming unavoidable. Bandwidth bottlenecks. Latency lags. Rising storage costs. These are not abstract concerns. Read Now

  • Right-Wing Activist Charlie Kirk Dies After Utah Valley University Shooting

    Charlie Kirk, a popular conservative activist and founder of Turning Point USA, died Wednesday after being shot during an on-campus event at Utah Valley University in Orem, Utah Read Now

Most   Popular

New Products

  • A8V MIND

    A8V MIND

    Hexagon’s Geosystems presents a portable version of its Accur8vision detection system. A rugged all-in-one solution, the A8V MIND (Mobile Intrusion Detection) is designed to provide flexible protection of critical outdoor infrastructure and objects. Hexagon’s Accur8vision is a volumetric detection system that employs LiDAR technology to safeguard entire areas. Whenever it detects movement in a specified zone, it automatically differentiates a threat from a nonthreat, and immediately notifies security staff if necessary. Person detection is carried out within a radius of 80 meters from this device. Connected remotely via a portable computer device, it enables remote surveillance and does not depend on security staff patrolling the area.

  • ResponderLink

    ResponderLink

    Shooter Detection Systems (SDS), an Alarm.com company and a global leader in gunshot detection solutions, has introduced ResponderLink, a groundbreaking new 911 notification service for gunshot events. ResponderLink completes the circle from detection to 911 notification to first responder awareness, giving law enforcement enhanced situational intelligence they urgently need to save lives. Integrating SDS’s proven gunshot detection system with Noonlight’s SendPolice platform, ResponderLink is the first solution to automatically deliver real-time gunshot detection data to 911 call centers and first responders. When shots are detected, the 911 dispatching center, also known as the Public Safety Answering Point or PSAP, is contacted based on the gunfire location, enabling faster initiation of life-saving emergency protocols.

  • Unified VMS

    AxxonSoft introduces version 2.0 of the Axxon One VMS. The new release features integrations with various physical security systems, making Axxon One a unified VMS. Other enhancements include new AI video analytics and intelligent search functions, hardened cybersecurity, usability and performance improvements, and expanded cloud capabilities