ASSA ABLOY will, through its subsidiary HID Global purchase 98.5% or more of the shares in Evolis, a French manufacturer of ID cards and consumables.
HID has entered into a put option agreement with the shareholders of Cedys & Co for all of its Evolis shares — 84.4% — and voting rights, as well as Crédit Mutuel Innovation’s of 14.0% of Evolis shares to HID. The two transactions would result in a combined purchase price of approximately €224.9 million for 98.5% of Evolis shares.
ASSA ABLOY, once the acquisition of the initial capital and voting rights is complete, will then launch a compulsory public tender shortly after to acquire the 1,5% remaining shares. This offer would be subject to Evolis’ board of directors’ approval.
Evolis manufactures, develops and sells software and printers for credential and card personalization. Evolis holds a strong position on the global market for instant issuance of physical credential including ID cards. Access control badges, Payment cards and other personalized credentials.
Evolis, founded in 1999, has 380 employees and is based in Angers.
“I am looking forward to welcoming Evolis into the ASSA ABLOY Group,” says Nico Delvaux, President and CEO of ASSA ABLOY. “Evolis is a great technological addition to ASSA ABLOY Group, and will strengthen our current offering in the secure issuance market.”
“It would be a pleasure to welcome Evolis to the HID family” says Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit at HID Global. “Joining forces with a strong industry player like Evolis would enable us to better meet our customers’ needs and provides complementary growth opportunities across product, geographical and vertical market presence”.
