ACRE Bolsters Access Control Portfolio With Open Options Buy
Open Options is said to significantly increase ACRE’s position in the access control market, with emphasis on North America.
The purchase will enhance ACRE’s strategic expansion plans for strengthening its access control business and product portfolio, according to the announcement.
ACRE is the holding company of Vanderbilt, a global provider of security products and systems encompassing access control, intrusion detection and video management; and, ComNet, a U.S.-based manufacturer of audio, video, data and Ethernet communication products.
The Open Options transaction is the latest M&A activity since ACRE completed the acquisitions of ComNet and Dublin, Ireland-based Access Control Technologies (ACT) in 2016. ACRE sold Mercury Security Products to HID Global, a subsidiary of ASSA ABLOY, in 2017.
The company will significantly increase ACRE’s position in the access control market, with emphasis on North America. For 20 years, Open Options has developed solutions that connect to leading security technologies to deliver a full-scale solution based on each customer’s unique needs, the announcement states
Open Options has been a Mercury Security partner since 1997. ACRE CEO Joseph Grillo states that this transaction will continue to expand the company’s competitive position in a highly fragmented market with great growth potential.
“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,” Grillo says. “With the international portfolio fully integrated, it was time to turn our focus to North America.”
In the announcement, Open Options Founder and CEO Steve Fisher comments: “We are pleased to join the ACRE organization with its strong global reach which will open new opportunities for the Open Options product range.
Financial details of the transaction were not released. The transaction is expected to close in the fourth quarter of 2018.
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