According to the announcement, the acquisition will create opportunities for growth while allowing both businesses to deliver greater value to their customers, by offering a wider and more innovative product range.
HKC will continue to operate as an autonomous business, retaining the existing commercial and operational team that has made the business successful. Existing customer contact points remain unchanged.
“I am very pleased to welcome HKC into the Assa Abloy Group. HKC is a very attractive addition thanks to its product portfolio, a strong track record of growth and new product development,” says Neil Vann, MD & Market Region Manager of Assa Abloy UK. “HKC’s cloud based self-monitoring technology together with Assa Abloy’s smart digital door locking solutions creates opportunities to add greater value for our customers, providing a total integrated solution for the smart home security market.”