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    ASSA B   SE0007100581

ASSA ABLOY AB

(ASSA B)
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ASSA ABLOY : invests in Paravision in the US

05/12/2021 | 02:02am EDT

ASSA ABLOY has invested in Paravision, a leading provider of advanced facial recognition solutions and recognized for its world-class leadership in accuracy.

"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.

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.

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

ASSA ABLOY´s investment is part of a MUSD 23 funding round for Paravision.

For more information, please contact:
Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68

About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 48,000 employees and sales of SEK 88 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

https://news.cision.com/assa-abloy/r/assa-abloy-invests-in-paravision-in-the-us,c3345478

https://mb.cision.com/Main/7333/3345478/1416293.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 93 271 M 11 206 M 11 206 M
Net income 2021 10 201 M 1 226 M 1 226 M
Net Debt 2021 20 456 M 2 458 M 2 458 M
P/E ratio 2021 28,4x
Yield 2021 1,59%
Capitalization 290 B 34 912 M 34 899 M
EV / Sales 2021 3,33x
EV / Sales 2022 3,11x
Nbr of Employees 49 685
Free-Float 91,4%
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 259,05 SEK
Last Close Price 261,50 SEK
Spread / Highest target 14,7%
Spread / Average Target -0,94%
Spread / Lowest Target -17,8%
EPS Revisions
Managers and Directors
NameTitle
Nico Delvaux President & Chief Executive Officer
Erik Pieder Chief Financial Officer & Executive VP
Lars Sture Renström Chairman
Carl Fredrik Wilhelm Douglas Vice Chairman
Birgitta Klasén Independent Director
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