ACRE to acquire Open Options
ACRE Monday announced it has entered into a definitive agreement to acquire Open Options based in Addison, Tex.
The company says the purchase will enhance ACRE’s strategic expansion plans for strengthening its access control business and product portfolio. ACRE's holdings also include security solutions provider Vanderbilt and ComNet, a manufacturer of audio, video, data and Ethernet communication products.
According to a company statement:
For 20 years, Open Options has developed access control solutions that connect to leading security technologies to deliver a full-scale solution based on each customer’s unique needs. Open Options has been a Mercury Security partner since 1997 and is dedicated to delivering the most advanced open-platform access control solution available on the market.
“The acquisition of Open Options boosts Vanderbilt’s reach in the access control market and enhances our product portfolio with the addition of an open architecture access control solution,” said Joseph Grillo, CEO, ACRE. “With the international portfolio fully integrated, it was time to turn our focus to North America.”
“We are pleased to join the ACRE organization with its strong global reach which will open new opportunities for the Open Options product range,” said Steve Fisher, Open Options founder and CEO.
The transaction is expected to close in the fourth quarter of 2018. Financial details were not disclosed.
ACRE was founded in 2012 by Grillo "as a platform to consolidate acquisitions in the electronic security industry," according to the company's website. In 2012, the company acquired Ingersoll Rand's software and controllers portfolio, which was renamed Vanderbilt Industries. In 2013, ACRE acquired Mercury Security (which was sold to HID Global in 2017) and in 2015 purchased the security products division of Siemens. ComNet and Access Control Technologies (ACT) were both acquired in 2016.