HID Global Acquires Mercury Security From ACRE
ACRE says the sale is a strategic move that allows the company to focus on its core access control, video and intrusion businesses under the Vanderbilt and ComNet brands.
“Divesting Mercury after many years of success since ACRE purchased the business in 2013 is a strategic move that allows ACRE to focus on its core access control, video and intrusion businesses under the Vanderbilt and ComNet brands. HID is the perfect home to provide for the continued growth and success of Mercury, which will remain a valued technology supplier to Vanderbilt,” says ACRE CEO Joseph Grillo.
HID’s acquisition of Mercury Security is subject to regulatory approval and customary closing conditions. It is expected to close in Q4 2017. Financial terms of the agreement are not being publicly disclosed. Houlihan Lokey Capital, Inc. and Raymond James & Associates, Inc. acted as financial advisors to ACRE and Mercury.
“The acquisition of Mercury Security will advance HID’s global leadership in the physical access control industry, adding Mercury Security’s high-quality controllers to HID’s product portfolio while extending HID’s installed base of millions of users beyond the readers and smart cards that we are already well known for,” says Stefan Widing, president and CEO of HID Global.
ACRE was formed in 2012 by security industry veteran Joseph Grillo as a platform to consolidate acquisitions in the electronic security industry. The company acquired Mercury in 2013.
Most recently, ACRE acquired video and data transmission equipment manufacturer ComNet last December.
Stay tuned to SSI for further coverage…
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