ASSA ABLOY has signed an agreement to acquire KEYper Systems, a supplier of electronic and mechanical key management systems in the US, with a strong presence in the automotive segment. KEYper was established in 1993.
KEYper Systems will become a separate business unit of TRAKA, an operating unit of ASSA ABLOY Global Solutions. Ric Stone, president of KEYper will report to Justin Sasse, MD of Traka.
“KEYper’s product range and expertise, especially in the US automotive and property management market segments, will complement Traka’s product range and specialist solutions in key and asset management solutions globally. This acquisition will allow us to leverage Traka’s technology to further develop KEYper’s offering to its existing customers, and widen the product range globally for Traka in all of our market segments,” says Sasse.
The acquisition is conditional upon satisfaction of customary legal conditions and is expected to complete during the first quarter of 2019.
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