“I am pleased to welcome Biosite and its employees to the Assa Abloy group. Biosite is a strategic technological addition to the Assa Abloy group. The company will reinforce our current offering within access control solutions and provide complementary growth opportunities, "said Nico Delvaux, president and chief executive officer of Assa Abloy." Biosite offers biometric access and workforce management solutions to the sector. of construction; maximizing safety and protection while providing full visibility of materials, design plans and the flow of people at the construction site. "
Established in 2010, Biosite provides biometric access to construction sites, has a team of 140 people and reported sales of around £ 14 million (US $ 18 million).
Mobeus, The initial partner of Biosite, invested about £ 5.75 million (US $ 7.5 million) in 2016 to help scale the company and establish an executive team focused on product innovation.
"It has been a privilege to work with Li and the team to help Biosite achieve its ambition to become the complete site management tool chosen for the construction industry," said Amit Hindocha, Mobeus investment partner. "We are very happy that the team has found a great fit with Assa Abloy and we are confident that they will continue to deliver on the next stage of their growth journey."
Biosite received guidance from PwC on the negotiation.
"Biosite is an exceptional fast-growing business, as recognized in the Sunday Times Tech Track 100, led by an exceptional management team and we hope to see the business thrive during its next phase of growth with the support of Assa Abloy," he said. PwC Midlands director Ian Birch.
Assa Abloy received the 2020 Member of the Year Award from the Security Industry Association, recognizing the leadership and participation of the company in projects and events related to SIA. The company will receive the award in Progress, The annual meeting of SIA members, during ISC West.
Assa Abloy regularly sponsors SIA events such as Reception of market leaders at ISC West, SIA GovSummit Y Securing new land, and has contributed greatly with the content to the SIA Center of Excellence and SIA Technology Insights.
"SIA is proud to honor ASSA ABLOY as a SIA Member of the Year 2020 and applauds the company for its valuable commitment, leadership efforts and contributions to SIA, our members and the security industry in general," he said. Scott Schafer, president of SIA. Board of Directors in a statement. "Thanks in large part to the excellent support of members such as ASSA ABLOY, SIA can continue to take advantage of its strong set of resources, programs and education and training offers to better serve our members and the industry."
The Advance will take place during ISC West 2020 on Tuesday, March 17, from 10:30 a.m. to 11:30 a.m. at the Sands Convention Center in Las Vegas, Nevada.