The Kudelski Group, which specializes in digital access and security solutions and is based in Cheseaux-sur-Lausanne (Switzerland) and Phoenix (Arizona), has announced the signing of a definitive agreement to sell its Skidata business to the Swedish group Assa Abloy.
Skidata is a provider of access management solutions headquartered in Austria. It is most likely best known to skiers as being a wide-spread access system at ski lifts worldwide.
Skidata was founded in 1977 and has been part of the Public Access Division of the listed Swiss Kudelski Group for 23 years. During this time, Skidata has developed into a global provider of innovative solutions for Parking & Mobility and Sports & Entertainment, with sales increasing from around €95 million in 2002 to €305 million in 2023. It currently has almost 1,300 employees and is headquartered in Salzburg. It will now become part of the Entrance Systems Division of Assa Abloy.
“We are proud of and grateful for what Skidata has accomplished since joining the group in 2001,” said André Kudelski, Chairman and CEO of the Kudelski Group. “This transaction is part of our overarching strategy to streamline the Group’s focus on digital security technologies and solutions for Media, the Internet of Things and Cybersecurity markets. We thank the Ski-data teams for their hard work and many accomplishments and wish them well as part of Assa Abloy.” “This acquisition delivers on our strategy to grow our business in mature markets through adding complementary products and solutions to our core business,” added Nico Delvaux, President and CEO of Assa Abloy.
The acquisition is subject to regulatory approval and is expected to be completed in the Swedish group’s third quarter of 2024. Financial terms of the deal reflect an enterprise value for Skidata of €340 million.
