Dormakaba takes over Solus Security Systems in India
The dormakaba group has acquired Solus Security Systems Pvt Ltd. accepted. The locking technology group wants to become the leading provider of intelligent, secure and seamless access solutions and grow in the Asian market in the future.
Dormakaba International Holding AG has taken over Solus Security Systems Pvt Ltd. closed. The company for access and security solutions expects the transaction to make a contribution to earnings per share at group level and to the EBITDA margin from day one, according to a media release . Solus achieved sales in the single-digit million range in the 2020/2021 financial year as of the end of March 2021. No further financial information was given on the transaction.
Solus is the market leader in India for integrated solutions in the field of electronic access control, time and attendance recording, access management for visitors, access control and security as well as the associated services. The company has a total of 200 employees in Bangalore and other locations, including 130 service technicians. They serve system integrators and medium-sized end customers in various industries throughout India.
"We are expanding our electronic access & data business in India with a broad product portfolio, additional sales channels and a large customer base – Solus offers us excellent growth opportunities," said Jim-Heng Lee, COO AS APAC at dormakaba, in the press release quoted.
For Solus, too, there are “synergies from the expanded product portfolio and the greater market presence, which increases the additional benefit for our customers in terms of better solutions and services,” said Narasimha Swamy, owner and managing director of Solus, quoted in the media release.