ASSA ABLOY has signed an agreement to sell its Citizen ID business to Toppan Holdings, a Japan-based global provider of integrated solutions in the fields of printing, communications, security, packaging, electronics and décor materials. 

The Citizen ID business area of HID manufactures, designs and implements physical and mobile identity solutions for government to citizen programs around the globe. Citizen ID has approximately 450 employees with manufacturing facilities in Ireland, Malta and the United States. Sales from the business amounted to about 1.3 billion Swedish kronor ($123.3 million) in 2023. 

“I find it very satisfying that with TOPPAN, Citizen ID and its employees and customers get a committed long-term owner, creating new opportunities for the future and I wish them every success,” says Nico Delvaux, president and CEO of ASSA ABLOY. 

“Over the past decade, our team has created a highly reputable offering of physical and digital citizen identity solutions,” said Björn Lidefelt, executive vice president and head of HID. “I am pleased with the improved performance of our Citizen ID business, appreciative of our employees’ contributions to HID and enthusiastic about their future success with TOPPAN.” 

The transaction will have a positive effect on ASSA ABLOY´s operating margin going forward, according to an announcement. The capital result before taxes is expected to be insignificant. 

The transaction is subject to customary closing conditions, regulatory approvals and employee consultation and is expected to close during the first quarter of 2025.