Allegion To Acquire Plano Group For Undisclosed Terms

RTTNews | 978 days ago
Stocktwits
Allegion To Acquire Plano Group For Undisclosed Terms

(RTTNews) - Security solutions provider Allegion plc (ALLE) announced Monday that through one of its subsidiaries, it has signed a definitive agreement to acquire assets of plano group, a software-as-a-service (SaaS) workforce management solution. Terms of the transaction were not disclosed.

Based in Germany, plano has been a long-time service provider and development partner for Allegion's leading European workforce management brand, Interflex, and its SP-EXPERT software platform.

Following the close of the acquisition, plano will continue to serve advanced workforce management (AWFM) customers as part of the Interflex portfolio.

The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.

Following the closure, the founder of the plano business, Robert Schüler, will join Interflex, helping ensure a smooth integration and driving progress of the AWFM software business strategy.

Tags: ALLE
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