BIOSITE, the biometric security company based in Solihull, has been bought by Swedish security firm Assa Abloy.
Assa Abloy, which owns international companies such as Yale Locks and Chubb Security, said Biosite was acquired as a ‘strategic technological addition.’
Biosite has 140 employees and generated sales of £14million in 2019. It makes fingerprint readers used for accessing building sites.
Li Wang, director of Biosite, said: “With a shared vision to improve construction productivity through digitisation, a partnership with Assa Abloy made perfect sense.
“As the global leader in access solutions, Assa Abloy has the means and reach to enable us to achieve our ambitious growth plans, whilst giving us autonomy to develop the innovative technology-enabled solutions we are known for.”
Biosite said the sale follows a record period of growth for Solihull-based Biosite – with revenue tripling in the last three years.
Nico Delvaux, President of Assa Abloy, said: “I am very pleased to welcome Biosite and their employees into our group – the company will reinforce our current offering within solutions for access control and will provide complementary growth opportunities.”
Headquartered in Stockholm, Assa Abloy operates worldwide with 49,000 employees. The company declined to say how much it paid for Biosite.
Over 650,000 workers are kept on Biosite’s database which maintains access to construction projects.