Allegion Bolsters E-Bike Leadership through New Alliance with European IoT Mobility Platform Developer Conneqtech
May 16 2018 - 8:00AM
Business Wire
Allegion plc (NYSE: ALLE), a leading global security products
and solutions provider, has made, through one of its subsidiaries,
an equity investment in European IoT mobility platform developer
Conneqtech.
Founded in the Netherlands in 2014, Conneqtech develops
platforms that enable connected mobility with GPS and rental
tracking, specializing in IoT solutions for bicycles, as well as
healthcare applications. Conneqtech has already partnered with one
of Allegion’s leading portable security brands, AXA, to develop the
AXA Connect. The solution allows cyclists to stay in touch with
their bicycles via a smartphone. Bicycles can be followed live,
traced and protected against theft using a personalized app.
This is Allegion’s second European IoT investment in 2018, as
Allegion Senior Vice President and President of EMEIA Lúcia Veiga
Moretti also announced a strategic investment in smart-home
innovator Nuki in February. She noted that Allegion is committed to
leading the electromechanical convergence in the security industry
across all of its businesses.
“We are excited to be working with another pioneer in the
European IoT markets – Conneqtech,” Veiga Moretti said. “Allegion’s
Global Portable Security business is a leader in the marketplace
with the continued innovation of our trusted AXA, Kryptonite and
Trelock brands. As we look for new ways to provide increased value
for our customers, complementing our strong mechanical heritage
with intelligent solutions is at the top of the list.”
Allegion and Conneqtech will work together to continue
developing best-in-class connected solutions and bring them to new
markets.
“We believe that Allegion is a partner who’s truly committed to
industry-leading innovation,” said Conneqtech Founder and CEO Bart
Visser. “Our team looks forward to driving the next generation of
e-bike solutions together.”
The partnership is consistent with Allegion’s strategy to drive
growth and create shareholder value by investing in new
technologies.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, including, but not limited to, statements that relate to the
acquisition’s impact on the company’s financial and operational
performance, the acquisition’s ability to drive growth and the
integration of the acquisition. These forward-looking statements
are based on the company's current available information and its
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, which 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 are 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, 2017, and
Form 10-Q for the quarter ended March 31, 2018, and in its other
SEC filings. The company assumes no obligations to update these
forward-looking statements.
About Allegion™
Allegion (NYSE: ALLE) is a global pioneer in safety and
security, with leading brands like CISA®, Interflex®, LCN®,
Schlage®, SimonsVoss® and Von Duprin®. Focusing on security
around the door and adjacent areas, Allegion produces a range of
solutions for homes, businesses, schools and other institutions.
Allegion is a $2.4 billion company, with products sold in almost
130 countries. For more, visit www.allegion.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180516005124/en/
Allegion plcMedia Contact:Maria Pia Tamburri – Director,
Public Affairs, 317-810-3399Maria.Tamburri@allegion.comorAnalyst
Contact:Mike Wagnes – Vice President, Treasurer and Investor
Relations, 317-810-3494Michael.Wagnes@allegion.com
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