News
ASSA ABLOY to sell Citizen ID division of HID
October 18, 2024
By SP&T Staff
ASSA ABLOY announced it has signed an agreement to sell its Citizen ID business to TOPPAN.
The Citizen ID business area of HID manufactures, designs and implements physical and mobile identity solutions for government to citizen programs globally. Citizen ID has approximately 450 employees with manufacturing facilities in Ireland, Malta and the U.S.
TOPPAN Holdings is a global provider of solutions for fields including printing, communications, security, packaging, décor materials, electronics and digital transformation.
“I find it very satisfying that with TOPPAN, Citizen ID and its employees and customers get a committed long-term owner, creating new opportunities for the future and I wish them every success,” says Nico Delvaux, president and CEO of ASSA ABLOY in a company statement.
In a separate statement, TOPPAN said the acquisition will establish the company “as one of the largest leaders in security and identity solutions, expanding its global footprint and portfolio of advanced secure technology and expertise.”
The transaction is subject to customary closing conditions, regulatory approvals, and employee consultation and is expected to close during the first quarter of 2025.