Construction biometric access firm bought up by Swedish giant
A company that makes biometric access systems for construction sites has been bought by the Assa Abloy Group, after it tripled revenue to £14m over the past three years.
Biosite Systems will spearhead Assa Abloy’s new division offering electronic access, software and identity solutions.
The company has more than 650,000 workers live on its databases and handles in excess of six million biometric “transactions” each month. Assa Abloy, which owns brands including Yale and Union, hit annual sales of £7.6bn in 2019.
Managing director of Biosite, Li Wang, said: “With a shared vision to improve construction productivity through digitisation, a partnership with Assa Abloy made perfect sense. As the global leader in access solutions, Assa Abloy has the means and reach to enable us to achieve our ambitious growth plans, whilst giving us autonomy to develop the innovative technology-enabled solutions we are known for.”
Christophe Sut, executive vice president and head of global solutions at Assa Abloy added: “Biosite offers leading biometric access and workforce management solutions to the construction sector; maximizing security and safety whilst providing full visibility to material, design plans- and people flow on site. Combining hardware, software and services the company is a very good fit with Assa Abloy Global Solutions.”