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, and operates from its HQ in Harrisburg, NC.
KEYper Systems will become a separate business unit of TRAKA, which is the global leader in key and asset management, and 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 extensive product range and specialist solutions in key and asset management solutions globally,” says Justin Sasse MD of Traka. “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.”
Danny Garrido, president of Traka Americas, comments: “This transaction provides us the opportunity to further strengthen our position in the industry, while advancing Traka’s strategy to increase its presence in core markets globally.
“Traka and KEYper are an excellent strategic fit. We have highly complementary product and service offerings, strong sales and marketing organizations and a shared dedication to quality customer service – we expect this combination to result in an even more effective and successful Traka.”
“I am very pleased to be joining Traka and Ass Abloy,” says Ric Stone, CEO of KEYper Systems. “KEYper will be able to accelerate its product and market development and is looking forward to engaging with the wider Traka and ASSA ABLOY organization to share knowledge and expertise.”
The acquisition is conditional upon satisfaction of customary legal conditions and is expected to complete during the first quarter of 2019.