Allegion to acquire ISONAS
ISONAS, founded in 2000, describes itself as a "manufacturer of Pure IP Access Control hardware."
According a statement on the acquisition, ISONAS "has edge-computing technology that provides innovative access control solutions for non-residential markets."
“By bringing ISONAS into the Allegion family, we’re adding a technology leader with solutions that align well with Allegion’s channel initiatives and add new access technologies to our portfolio,” added Tim Eckersley, Allegion's senior vice-president and president of the Americas region. “As Allegion continues to drive electronic adoption across our industry, we will also continue to offer more IP wall-based choices that add value for customers.”
ISONAS, based in Boulder, Colo., is expected to operate within Allegion's Americas region. Allegion is based in Dublin, Ireland.
ISONAS generated approximately US$6 million in net sales in 2017. The acquisition is expected to close in the third quarter of 2018, subject to customary closing conditions. Terms of the transaction were not disclosed.
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