DALLAS — Holding company ACRE, a global provider of security systems, announces it has acquired Dublin, Ireland-based Time Data Security (TDS).
The purchase is said to enhance ACRE’s strategic expansion plans for strengthening the product portfolio and geography in the U.K. and Europe and bringing new Cloud-based visitor management and access control products to North America.
The deal marks ACRE’s first acquisition since being acquired in March by Triton, a London-based private equity firm.
TDS provides Cloud-based workspace solutions that will complement the existing ACRE portfolio including the Vanderbilt, RS2 and Open Options brands, according to an announcement.
Founded by Frank Hart in 1990, TDS has developed a portfolio of products including Cloud-based visitor management, life safety and access control applications.
TDS Founder and CEO Hart says, “This is the beginning of an exciting new chapter for TDS. We are delighted to join ACRE with its strong global reach, which will accelerate our growth plans and support our ambitions to be the top provider of smart workplace solutions for enterprise businesses. TDS’s senior board member Sean Murphy and I are particularly excited to work with Joe Grillo and the management team to further strengthen ACRE’s position as the global leader in the delivery of integrated technologies and services.”
Hart and Murphy will remain with TDS as CEO and Director/Board Member respectively.
ACRE CEO Grillo says this transaction will continue to expand ACRE’s competitive position. “We believe we can assist the excellent management team at TDS to leverage our existing reseller channels and end users to help grow this business globally under the ACRE umbrella.”
Financial details of the transaction were not released.
