ASSA ABLOY to acquire French card printer manufacturer, Evolis
ASSA ABLOY plans to purchase, via its subsidiary HID Global approximately 98.5% shares of French ID Card Printer and Consumables Manufacturer, Evolis.
HID has entered into a put option agreement with the shareholders of Cedys & Co for all of its Evolis shares — 84.4% — and voting rights, as well as Crédit Mutuel Innovation’s of 14.0% of Evolis shares to HID. The two transactions would result in a combined purchase price of approximately €224.9 million for 98.5% of Evolis shares.
ASSA ABLOY, once the acquisition of the initial capital and voting rights is complete, will then launch a compulsory public tender shortly after to acquire the 1,5% remaining shares. This offer would be subject to Evolis’ board of directors’ approval.
Evolis manufactures, develops and sells software and printers for credential and card personalization. Evolis is a global leader in instant issuance physical credentials, including ID cards, payment cards, access control badges and other personalized credentials.
Evolis was founded in 1999 in Angers France and currently has 380 employees.
“I am looking forward to welcoming Evolis into the ASSA ABLOY Group,” says Nico Delvaux, President and CEO of ASSA ABLOY. “Evolis is a great technological addition to ASSA ABLOY Group, and will strengthen our current offering in the secure issuance market.”
“It would be a pleasure to welcome Evolis to the HID family” says Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit at HID Global. “Joining forces with a strong industry player like Evolis would enable us to better meet our customers’ needs and provides complementary growth opportunities across product, geographical and vertical market presence”.
