ASSA ABLOY has signed an agreement to acquire KEYper Systems, a leading 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 headquarters in Harrisburg.
KEYper Systems will become a separate business unit of key and asset management specialist Traka and an operating unit of ASSA ABLOY Global Solutions. Ric Stone, president of KEYper, will report to Justin Sasse, managing director 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,” explained Justin Sasse, managing director of Traka. “This acquisition will allow us to leverage Traka’s technology to further develop KEYper’s offer for its existing customers, and also widen the product range globally for Traka in all of our market segments.”
Danny Garrido, president of Traka Americas, added: “This transaction provides us with the opportunity to further strengthen our position in the industry, while at the same tie 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 operations and a shared dedication to quality customer service. We expect this combination to result in an even more effective and successful Traka.”
Ric Stone concluded: “I’m very pleased to be joining Traka and ASSA ABLOY. KEYper will be able to accelerate its product and market development and is looking forward to engaging with the wider Traka and ASSA ABLOY organisation in order to share knowledge and expertise.”
The acquisition is conditional upon the satisfaction of customary legal conditions and is expected to complete during the first quarter of 2019.