Transaction Details

February 26, 2018
Zurich

Sector

Technology

Deal Type

M&A

Deal Value

N/D

Deal Team

Alexander M. Grünwald, Thomas Eulau

GCA Altium advises Nuki on its alliance with Allegion

GCA Altium has advised European smart-home innovator Nuki GmbH on a minority investment from a subsidiary of Allegion plc (NYSE: ALLE), a leading global security products and solutions provider. This transaction reflects GCA Altium's position as a leading advisor in the Technology space.

Founded in Austria in 2014, Nuki’s cornerstone product is a retrofit residential smart lock. The Nuki Smart Lock, which is easily installed on top of an existing key and lock, offers Bluetooth-enabled smartphone and Nuki Fob credentialing and fits the majority of existing European locks. When used with the Nuki Bridge, it provides permanent internet connectivity and homeowner control from remote locations. With the Nuki Box, which is the latest addition to the company’s product portfolio, entrance doors of multi-family housing become smart access systems.

Allegion Senior Vice President and President of EMEIA Lúcia Veiga Moretti said the strategic investment in Nuki expands Allegion’s footprint in the growing European IoT marketplace.

“Our alliance with Nuki is yet another example of Allegion’s commitment to leading the electro-mechanical convergence in the security industry,” Veiga Moretti said. “This business has innovative thought leaders at the helm who will make excellent collaboration partners. Nuki is truly a pioneer in the residential smart-lock space in Europe. And, with both of our open ecosystems, we can work together to develop best-in-class digital platforms.”

Through the alliance, Allegion and Nuki will work together to develop commercial initiatives that accelerate growth.

“Like Allegion’s portfolio of solutions, our leading residential lock is smart, simple and secure,” said Nuki CEO Martin Pansy. “We’re excited to collaborate with a partner like Allegion, who has a growing European presence as well as global market strength. We are convinced that we can shape the future of smart access together.”

The partnership is consistent with Allegion’s strategy to drive growth and create shareholder value by investing in new technologies.

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