Allegion plc (NYSE: ALLE), a leading global security products
and solutions provider, has, through one of its subsidiaries,
signed a definitive agreement to acquire assets of plano. group
(“plano”), a software-as-a-service (SaaS) workforce management
solution. The transaction is expected to close in the first quarter
of 2023, subject to customary closing conditions.
Based in Germany, plano has been a long-time service provider
and development partner for Allegion’s leading European workforce
management brand, Interflex, and its SP-EXPERT software platform.
Following the close of the acquisition, plano will continue to
serve advanced workforce management (AWFM) customers as part of the
Interflex portfolio.
Interflex General Manager Bernhard Sommer said this acquisition
will accelerate seamless access, driving expansion of Interflex and
its AWFM business with new capabilities in SaaS models and
recurring revenue solutions.
“This strategic acquisition represents a significant expansion
of our position as a market leader in workforce management while
underscoring our commitment to growth and meeting customer needs
through investment in software solutions,” Sommer said. “It will
add mobile-first software engineering talent to our business, while
deepening our presence in attractive end-user markets like
healthcare, banking and insurance, call centers, retail and
municipal government services. At the same time, it will fuel
expansion for the plano software platform and offer a broader suite
of services to both plano and Interflex customers.”
The founder of the plano business, Robert Schüler, will join
Interflex, helping ensure a smooth integration and driving progress
of the AWFM software business strategy.
“This acquisition will be a natural evolution for plano,
providing important capital, scale and demand generation
resources,” Schüler said. “Our longstanding relationship with
Interflex will support an efficient transition that benefits our
customers and builds on our mutual reputations of both quality and
excellence.”
The agreement to acquire plano follows another recent investment
in Interflex’s AWFM business – Allegion’s 2021 acquisition of
assets of Astrum Benelux B.V. (Belgium) and WorkforceIT B.V. (the
Netherlands).
Terms of the plano transaction were not disclosed.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, and Section 21E of
the Securities Exchange Act of 1934, including statements regarding
the continued impacts of the global COVID-19 pandemic, supply chain
constraints, electronic component and labor shortages, inflation,
rising freight and material costs, impacts of Russia’s invasion of
Ukraine including further supply chain disruptions and the
increased risk of cyber-attacks in connection with such invasion,
the company's 2022 financial performance, the company’s business
plans and strategy, the company’s growth strategy, the company’s
capital allocation strategy, the company’s tax planning strategies,
and the performance of the markets in which the company operates.
These forward-looking statements generally are identified by the
words “believe,” “project,” “expect,” “anticipate,” “estimate,”
“forecast,” “outlook,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,”
“will continue,” “will likely result” or the negative thereof or
variations thereon or similar expressions generally intended to
identify forward-looking statements. Forward-looking statements may
relate to such matters as projections of revenue, margins,
expenses, tax provisions, earnings, cash flows, benefit
obligations, dividends, share purchases or other financial items;
any statements of the plans, strategies and objectives of
management for future operations, including those relating to any
statements concerning expected development, performance or market
share relating to our products and services; any statements
regarding future economic conditions or our performance; any
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any statements of expectation or belief; and any statements of
assumptions underlying any of the foregoing. These statements are
based on the company's currently available information and our
current assumptions, expectations and projections about future
events. They are subject to future events, risks and uncertainties
- many of which are beyond the company’s control - as well as
potentially inaccurate assumptions, that could cause actual results
to differ materially from those in the forward-looking statements.
Further information on these factors and other risks that may
affect the company's business is included in filings it makes with
the Securities and Exchange Commission from time to time, including
its Form 10-K for the year ended Dec. 31, 2021, Form 10-Q for the
quarters ended March 31, 2022, June 30, 2022, and Sept. 30, 2022,
and in its other SEC filings. The company undertakes no obligation
to update these forward-looking statements.
About Allegion
Allegion (NYSE: ALLE) is a global pioneer in seamless access,
with leading brands like CISA®, Interflex®, LCN®, Schlage®,
SimonsVoss® and Von Duprin®. Focusing on security around the door
and adjacent areas, Allegion secures people and assets with a range
of solutions for homes, businesses, schools and institutions.
Allegion had $2.9 billion in revenue in 2021, and its security
products are sold around the world.
For more, visit www.allegion.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20221106005100/en/
Media Contact: Whitney Moorman – Reputation Management
Leader 317-810-3241 Whitney.Moorman@allegion.com
Analyst Contact: Tom Martineau – Vice President, Investor
Relations, and Treasurer 317-810-3759
Tom.Martineau@allegion.com
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