Access-IS, a leader in ID document scanning, ticket reading and contactless fare payments, joins HID Global, a worldwide leader in trusted identity solutions, an ASSA ABLOY Group company.
Access-IS is a leading technology provider of miniaturized reader devices that combine a number of key technologies ideal for mission-critical environments. Access-IS’ proven technology and solutions will broaden HID Global’s portfolio to create a new wealth of applications to enable both Access-IS and HID to realise their common vision. The product and technology portfolios are greatly complementary and will accelerate both HID’s and Access-IS’ vertical market expansion and add new product offerings that supports people’s ability to transact safely, work productively and travel freely.
The acquisition news follows a record period of growth for Access, which has doubled the size of its business since 2015 when Mobeus, a London based Private Equity house invested in and supported a Management Buy Out, to reach a revenue of c. £19m in 2019. Managing Director, Guy-Franck Nakach said “HID and Access-IS vision, technology and values are extremely complementary, and together enable people to validate and use a trusted identity to access a range of services. As the global leader in access solutions, HID has the reach and industry expertise to enable Access-IS to achieve its ambitious growth plans and fulfil its potential”. EC Mergers & Acquisitions acted as the exclusive financial advisor to Access-IS in the transaction.
“Access-IS solutions are a good fit for HID. Strategically aligned with both our existing Extended Access Technologies business and HID’s transport and ticketing solutions in our Identification Technologies business, Access-IS will enhance HID’s industry leadership while positioning us for growth in a number of attractive markets,” said Björn Lidefelt, CEO of HID Global. “HID and Access-IS share a similar purpose to embed trust in physical products as a bridge to the digital world.”
Access-IS technology is widely deployed in airports, transit and ticketing solutions, governmental and KYC applications worldwide. In addition to building upon Access-IS’s existing vertical markets, HID will leverage the company’s technology to fuel further expansion, and EMV contactless payment readers from Access-IS will broaden HID’s offering in the financial sector and other markets. Succeeding Guy-Franck, Susan Stuart will take the role of Managing Director of the Access-IS Business Unit and will be reporting to Steve Currie, Vice President and Managing Director of Extended Access Technologies’ Business Area.