Kudelski Group is selling its its Skidata division to Swedish locking and security systems manufacturer Assa Abloy.
Plans for the sale were first announced in February with the proceeds being used to repay a CHF145.9 million bond that matures in September 2024.
Skidata, acquired by Kudelski in 2001, offers access control systems for airports, shopping centres, ski lifts, and stadiums.
It’s significant because the CHF326.4 million turnover accounts for half of Kudelski Group’s revenue.
“This transaction is part of our overarching strategy to tighten the Group’s focus on digital security technologies and solutions for the media, Internet of Things, and cybersecurity markets,” said Kudelski CEO André Kudelski in a statement.
