“I am very pleased to welcome Phoniro into the ASSA ABLOY Group. Phoniro constitutes a strategic addition to the Group and reinforces our position in the market for elderly care,” says Johan Molin, president and CEO of ASSA ABLOY.
Phoniro was founded in 2004. It is headquartered in Halmstad, Sweden and has approximately 80 employees. Sales for 2018 are expected to reach around SEK 175 million ($22 million) with a good EBIT margin and the acquisition will be accretive to EPS from start.