SGI Matrix, an affiliate of ACRE, acquired the PremiSys software and hardware assets from Brady Corp. for approximately $8 million.
An additional $1 million is to be paid as deferred purchase price on the 12-month anniversary of the closing, according to an announcement released by Brady Corp.
PremiSys provides software and related support, maintenance and third party open platform hardware and has annual sales of approximately $12 million. PremiSys’ technologies enable organizations to self-manage door access, view integrated video and lockdown facilities. The acquisition is said to extend opportunities for ACRE in healthcare, education, data centers and senior living facilities.
An announcement by ACRE stated the operating group completed the acquisition. The security market continues to provide opportunities for ACRE to drive consolidation and acquire technologies that broaden its portfolio and serve the expanding needs of its customer base, the announcement stated.
“Since its inception, ACRE’s overarching goal has been to consolidate access control and customers under one umbrella,” said Darren Learmonth, CTO, ACRE. “This acquisition represents another important step in ACRE’s transformation, solidifying the company as the leader in the rapidly growing access control market.”
The deal follows a history of acquisitive growth for ACRE. In 2021, it purchased Feenics and Matrix Systems to address evolving customer requirements in cloud and enterprise segments, and added SISCO to its growing family of brands in 2022.