Kudelski Group to Sell SKIDATA to ASSA ABLOY

The Kudelski Group, a leader in digital security, has announced the sale of its SKIDATA business to ASSA ABLOY. The agreement marks the culmination of SKIDATA's growth under Kudelski's leadership, with revenues rising from EUR 95 million in 2002 to EUR 305 million in 2023.

André Kudelski, Chairman and CEO, highlighted that this sale aligns with the Group's strategy to concentrate on digital security technologies for Media, IoT, and Cybersecurity markets. The deal emphasizes gratitude towards SKIDATA teams and their success.

Nico Delvaux, ASSA ABLOY’s President and CEO, welcomed the integration of SKIDATA, noting the acquisition's contribution to their growth strategy in mature markets.

Closing is expected in the third quarter of 2024, subject to regulatory approval. The deal values SKIDATA at EUR 340 million.