Swedish access solutions provider Assa Abloy AB (publ) agreed to acquire Czech Republic-based LUX-IDent, which is a provider of radio frequency identification, or RFID, components.
The purchase will extend Assa Abloy's HID Global's RFID technology into emerging markets, Stefan Widing, executive vice president and head of HID Global, said.
"The acquisition of LUX-IDent considerably enhances the group's position within smart components and will provide complementary growth opportunities," said Nico Delvaux, president and CEO of Assa Abloy.
The acquisition, which will be neutral to EPS from start, is expected to close by the end of the year, subject to regulatory approval and customary closing conditions, the company said.
Financial terms of the deal were not disclosed.
