Swedish lock and security systems specialist Assa Abloy announced on Monday the acquisition of Integrated Warehouse Solutions (IWS), a US manufacturer of equipment for unloading platforms.

In a press release, the group emphasizes that the operation will mark its entry into a new market segment deemed "promising", with the aim of expanding its positioning beyond its so-called "core" businesses.

Founded in 1975, IWS - headquartered in Burleson, Texas - employs around 550 people.

It has sales of $170 million in 2022, and Assa Abloy expects the acquisition to be accretive to its earnings per share (EPS) upon completion.

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