7 Set 2016
This article originally appeared in Security Systems News. Read it here.
WIESBADEN, Germany—Vanderbilt, a global provider of security systems based here, has entered into a definitive agreement to acquire Access Control Technology Ltd (ACT), a Dublin-based company that designs and manufactures enterprise-level and cloud-based access control and video management solutions.
Although the financial details of the deal were not released, the transaction is expected to close in the fourth quarter of 2016.
“We really like the strategic fit with ACT, which has a very strong, profitable and growing business in the UK and Ireland,” Vanderbilt’s CEO, Joseph Grillo, told Security Systems News. “We are getting ready to launch in the U.S., so that matches very well with our strategy of growing our business on an international basis in the areas of access control and intrusion (with some video), as well as a small VMS product line, which we got through the acquisition as well.”
Grillo said that the acquisition of ACT boosts Vanderbilt’s reach in the access control market and enhances its product portfolio, particularly in North America.
“ACT has a relatively new cloud-based access control system called ACT 365, which is a product that we will look to bring into the North American market as we didn’t previously have a cloud-based access control solution with a software-as-a-service model,” he explained. “We have opportunities to take the technology and breadth of products that we have acquired with ACT and bring them into the North American market, which is absolutely important to our overall business.”
In terms of overall sales for the company, Grillo said that Vanderbilt is having a good year. “Our North America business continues to grow very strongly on top and bottom line,” he said. “We are an independent, really focused company in these electronic security manufacturing areas, and this is another step toward continuing to grow that business internationally.”
This deal is the first since Vanderbilt completed the acquisition of the Siemens Security Products business in 2015. Vanderbilt is a subsidiary of ACRE LLC.