Business
Allegion Finalizes Acquisition of Leading Readers and Credentials Provider ELATEC
DUBLIN, July 01, 2025--Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, through one of its subsidiaries, has completed the acquisition of ELATEC, including Elatec GmbH and other group entities, ("ELATEC") from Summit Partners for €330 million on a cash-free, debt-free basis.
About this update from Allegion Plc
DUBLIN, July 01, 2025 --( BUSINESS WIRE )-- Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, through one of its subsidiaries, has completed the acquisition of ELATEC, including Elatec GmbH and other group entities, ("ELATEC") from Summit Partners for €330 million on a cash-free, debt-free basis. About Allegion At Allegion (NYSE: ALLE), we design and manufacture innovative security and access solutions that help keep people safe where they live, learn, work and connect. We’re pioneering safety with our strong legacy of leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Our comprehensive portfolio of hardware, software and electronic solutions is sold around the world and spans residential and commercial locks, door closer and exit devices, steel doors and frames, access control and workforce productivity systems. Allegion had $3.8 billion in revenue in 2024. For more, visit www.allegion.com . View source version on businesswire.com: https://www.businesswire.com/news/home/20250701629628/en/ Contacts Media Contact: Whitney Moorman – Director, Global Communications 317-810-3241 [email protected] Analyst Contact: Jobi Coyle – Director, Investor Relations 317-810-3107 [email protected] Josh Pokrzywinski – Vice President, Investor Relations 463-210-8595 [email protected]