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Assa Abloy completes purchase of Australian secure card manufacturer

Stockholm-based Assa Abloy AB completed the acquisition of Placard Pty. Ltd., a Melbourne-based secure card manufacturer.

Assa Abloy expects the deal to enhance its position in the Pacific smart card market and help it pursue complementary growth.

The financial terms of the deal were not disclosed.

Assa Abloy said the acquisition will be EPS accretive.