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Saturday, March 2, 2024

Assa Abloy Announces Acquisitions and Corporate Investment

ASSA ABLOY’s HID Global business unit has invested in Paravision, a specialist in advanced facial recognition solutions. The investment aligns with HID Global’s strategic direction to embed facial recognition into solutions for a seamless and highly secure user experience in a variety of identity verification and authentication applications, including access control.

“The investment in Paravision is a strategic technological investment for the ASSA ABLOY Group and will accelerate the development of biometric solutions that leverage facial recognition algorithms and provide complementary growth opportunities,” says Nico Delvaux, President and CEO of ASSA ABLOY.

“In partnership, HID and Paravision have already cooperated on projects and we look forward to further advancing our collaboration across a number of different markets and use cases,” says Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global.

Paravision was founded in 2013 and has some 31 employees. The company is headquartered in San Francisco, U.S. 

ASSA ABLOY has also recently acquired Sure-Loc, a supplier of residential locks and associated hardware in the U.S., and has signed an agreement to acquire MR Group´s hardware division, a supplier of aluminum profile hardware and locks in Portugal.

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The Government Technology & Services Coalition's Homeland Security Today (HSToday) is the premier news and information resource for the homeland security community, dedicated to elevating the discussions and insights that can support a safe and secure nation. A non-profit magazine and media platform, HSToday provides readers with the whole story, placing facts and comments in context to inform debate and drive realistic solutions to some of the nation’s most vexing security challenges.

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