Assa Abloy has signed an agreement to sell its sensor technology business CEDES in Switzerland to Capiton AG.
CEDES was established in 1986 and has some 320 employees and is a leading sensor technology company in the elevator and door industry.
The company is headquartered in Landquart, Switzerland. Sales in 2019 amounted to about 51 MEUR.
“I find it very satisfying that with capiton AG, CEDES and its employees and customers gain a committed long-term investor, creating new opportunities for the future and I wish them every success,” says Nico Delvaux, President and CEO of Assa Abloy.
The divestiture is subject to customary closing conditions and is expected to close during the fourth quarter of 2020.