Assa Abloy has signed an agreement to acquire KEYper Systems, a supplier of electronic and mechanical key management systems in the U.S. with a strong presence in the automotive segment.

“I am very pleased to welcome KEYper Systems into the Assa Abloy Group. The acquisition of KEYper Systems enhances our global product offering in this area and will provide synergy opportunities in North America and other markets,” says Nico Delvaux, president and CEO of Assa Abloy.

“KEYper Systems will complement our products within intelligent key and asset management solutions offered by Traka, which is part of the business unit Assa Abloy Global Solutions (previously Hospitality) as of January 1, 2019. The acquisition will also strengthen our position and installed based in the U.S., as well as provide an attractive opportunity to accelerate our global growth,” says Christophe Sut, executive vice president and head of the global technologies business unit Assa Abloy Global Solutions.

KEYper Systems was established in 1993 and has approximately 25 employees. The head office is located in Harrisburg, N.C.

Sales for 2019 are expected to reach about $22 million (approx. SEK 195 million). The acquisition is conditional upon satisfaction of customary closing conditions and is expected to close during the first quarter of 2019.