{"data":{"news":{"items":[{"title":"Allegion to Acquire ELATEC, Bolstering Electronics Portfolio with Leader in Reader and Credential Technology","date":"2025-06-13 00:00:44","id":5888,"author":"Eric Ooi","blurb":"","blurb_image_uid":"https://dxfpracgmlczp.cloudfront.net/2025/06/1750146820322_Elatec_image w logo.png","blurb_expanded_image_uid":null,"article":"\n\t\n\n\n

Allegion, a leading global provider of security products and solutions, has signed a definitive agreement, through one of its subsidiaries, to acquire ELATEC (including Elatec GmbH and affiliated entities) from Summit Partners for €330 million on a cash-free, debt-free basis. The acquisition will be financed through a combination of cash on hand and borrowings under Allegion’s existing revolving credit facility.

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ELATEC is a leading manufacturer of security and access technology, specializing in RFID credentials and readers solutions designed in Germany and sold globally. ELATEC’s extensive portfolio of readers leverages their internally developed software stack and ensures compatibility with nearly 100 credential types, making the company a leader in interoperability, which aligns well with Allegion’s partner of choice strategy.

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ELATEC’s global diversified customer base spans non-residential markets, ranging from education, healthcare and hospitality to enterprise and industrial. The company expects ELATEC to generate approximately €60-€65 million in net sales in 2026 and be accretive to 2026 adjusted earnings per share (EPS).

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As a result of this acquisition, Allegion will expand its global electronics portfolio in attractive end markets while also increasing strategic relationships with channel partners. ELATEC will leverage Allegion’s strong demand creation engine and global network.

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“Adding ELATEC to the Allegion portfolio is a unique opportunity to scale our electronics business in attractive non-residential markets with technology that’s core to who we are as a pureplay security and access solutions provider,” Allegion President and CEO John H. Stone said. “ELATEC is a leader in their field and a natural extension of our own reader and credential product lines with high-single digit to low-double digit growth consistent with Allegion’s financial profile in electronics. This strategic acquisition builds on our legacy of innovation, market leadership and superior customer experiences and will result in added value for our shareholders.”

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ELATEC will report into the Allegion International segment, led by Allegion Senior Vice President Tim Eckersley. Gerhard Burits, CEO of ELATEC, will join Allegion with the ELATEC business to support a smooth transition and accelerate growth.

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“This will be a powerful combination of expertise, with ELATEC’s leadership in line-powered readers complementing Allegion’s proficiency in battery-operated solutions. Together, we will offer a comprehensive range of products that provide meaningful market differentiation and solidify our joint position as a partner of choice,” said Burits.

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This acquisition is expected to close in the third quarter of 2025, subject to customary closing conditions.

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Global security products and solutions provider Allegion has acquired privately held technology company Yonomi in January.

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Yonomi is a smart home integration platform founded in 2013 by building automation and enterprise cloud computing experts. It was the first to create an agnostic smart-home ecosystem that automatically discovers and coordinates devices. Yonomi said its solutions are used in more than 150 countries, and millions of IoT devices are connected to its platforms.

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According to Allegion Senior Vice President and Chief Technology Officer (CTO) Vince Wenos, Yonomi also holds unique intellectual property that matches well to Allegion’s strategic priorities for accelerating growth through seamless access, innovative solutions and meaningful partnerships.

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“Yonomi’s patented technology and technical capabilities will help accelerate Allegion’s vision of seamless access and enhance the breadth of our software development capabilities,” Wenos said. “It also opens avenues for integration with leaders in home and enterprise solutions for the IoT – supporting our ‘partner of choice’ strategy.”

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Wenos added: “We are a customer of the Yonomi platform, ourselves, having embraced Yonomi ThinCloud technology as a part of our residential smart deadbolt ecosystem. This, too, makes us a firm believer in Yonomi solutions and, especially, the team behind them.”

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Yonomi’s CEO Kent Dickson will become vice president and general manager of the Yonomi business unit within Allegion. Dickson noted that Allegion has been an investor in Yonomi since 2017 and the acquisition is a natural evolution for the Yonomi business.

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“This is an exciting moment in time for the Yonomi family and our customers,” Dickson said. “As an early provider of IoT solutions, Allegion truly understands the value of connected ecosystems and shares an important role in progressing smart-home solutions through its industry-leading brands like Schlage. In addition, Allegion has been a significant partner of, and investor in, our company, and this acquisition provides more capital and capacity for growth of our existing technologies and platforms.”

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Yonomi employs more than 20 people at its operations in Colorado and Texas in the United States.

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