Assa Abloy explores phone deals
Assa Abloy AB (ASSAB), the world’s largest lock maker, is negotiating partnerships with mobile-phone companies as new software for Apple Inc. (AAPL) and Google Inc. (GOOG) devices will allow users to open doors with their smartphones.
“This industry is rapidly becoming electronic, but you still need a lock,” Chief Executive Officer Johan Molin said in an interview in the Stockholm headquarters of the company with a market value of $19 billion. The 133-year-old lockmaker is in talks about deals with technology companies that are looking for partners in a business set for exponential growth, said Molin, declining to give names.
For the full story, visit the Bloomberg website here.