Business
Allegion to Acquire ELATEC, Bolstering Electronics Portfolio With Leader in Reader and Credential Technology
DUBLIN, June 12, 2025--Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, through one of its subsidiaries, has signed a definitive agreement to acquire ELATEC, including Elatec GmbH and other group entities, ("ELATEC") from Summit Partners for €330 million on a cash-free, debt-free basis. Allegion expects to fund the acquisition through a combination of cash on hand and borrowings under its existing revolving credit facility.
About this update from Allegion Plc
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