Swedish manufacturing conglomerate, Assa Abloy AB, has announced its plans to acquire Nomadix and Global Reach, two prominent providers of Wi-Fi access and engagement platform solutions based in the US and UK respectively. These companies primarily serve the hospitality and commercial real estate industries.
The acquisition is slated for completion by the second quarter, and is expected to boost earnings per share for Assa Abloy right from the start. Assa Abloy's CEO, Nico Delvaux, expressed excitement over the acquisition stating that it would be a crucial tech addition to the group, strengthening their current hospitality offerings, and pave the way for complementary growth prospects.
Assa Abloy underlined that Nomadix and Global Reach would serve as key additions to Global Solutions, and would enhance the end-to-end offering of its hospitality business and adjacent verticals.
Founded in 1998, Nomadix and Global Reach are based in Los Angeles and London respectively, operating as two distinct entities but under a common management and ownership structure. As of 2023, the companies reported sales worth $30 million, offering a technology platform that includes hardware, software, and analytics tools. These resources help engage and connect with customers and devices through Wi-Fi networks.
