Assa Abloy acquires Level Lock in U.S., says dilutive to EPS from start

Assa Abloy announced it has acquired Level Lock, a technology solutions business based in Redwood City, California. “Level Lock was founded in 2016 and has some 70 employees. The main office is located in Redwood City, California, USA. Sales for 2023 amounted to about MUSD 16 (approx. MSEK 170). The acquisition will be dilutive to EPS from the start,” the company stated. “The acquisition of Level Lock complements ASSA ABLOY’s technology portfolio and strengthens our digital offering across multiple businesses in the Americas division,” says Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. “Their innovative platform provides an easy transition from mechanical locking to digital access solutions with minimal effort.”