Vanderbilt has announced that it has entered into a definitive agreement to acquire Access Control Technology (ACT) based in Dublin, Ireland. This will be the latest M&A activity since Vanderbilt completed the acquisition of the Siemens Security Products business in 2015.
ACT was formed in 1995 and specialises in the design and manufacture of electronic access control, video management, and door entry systems. ACT is headquartered in Dublin, has an office in Manchester, UK, and an active distribution network that includes Europe, Asia, the Middle East, with plans to enter the North American market.
Vanderbilt’s CEO, Joseph Grillo, stated that this transaction will continue to expand Vanderbilt’s competitive position in a highly fragmented market with great growth potential. “The acquisition of ACT boosts Vanderbilt’s reach in the access control market and enhances our product portfolio with the addition of a cloud based access control system and a tightly integrated VMS”, commented Grillo. “With the integration of the Siemens business complete, it was time to look at new opportunities.”
“We are pleased to have the opportunity to be part of a larger and strong international organisation which will open exciting new market opportunities for the ACT product range”, said David Tymlin, ACT Managing Director.
Financial details of the transaction were not released. The transaction is expected to close in the fourth quarter of 2016.
