Security systems provider Vanderbilt has entered into a definitive agreement to acquire Access Control Technology Ltd. (ACT), based in Dublin, Ire. Terms of the transaction were not disclosed.
The purchase will enhance Vanderbilt’s strategic expansion plans for strengthening its access control business and product portfolio, with emphasis in Ireland and the United Kingdom, according to a news release. The deal marks the latest M&A activity since Vanderbilt completed the acquisition of the Siemens Security Products business in 2015.
ACT was formed in 1995 and specializes in the design and manufacture of electronic access control, video management and door entry systems. Along with its headquarters, ACT operates an office in Manchester, England, as well as an active distribution network that includes Europe, Asia and the Middle East. According to the news release the company has plans to enter the North American market but gave no indication when that would happen.
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Vanderbilt’s CEO Joe Grillo states the transaction will continue to expand Vanderbilt’s competitive position in a highly fragmented market with great growth potential.
“The acquisition of ACT boosts Vanderbilt’s reach in the access control market and enhances our product portfolio with the addition of a cloud-based access control system and a tightly integrated VMS,” he says. “With the integration of the Siemens business complete, it was time to look at new opportunities.”
The transaction is expected to close in the fourth quarter of 2016.
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