ACRE, a global provider of security systems, announced the acquisition of Time Data Security (TDS), based in Dublin, Ireland. This purchase will enhance ACRE’s expansion plans for strengthening its product portfolio and geography in the U.K. and Europe and bringing cloud-based visitor management and access control products to North America.
This is ACRE’s first acquisition since being acquired by Triton Partners in March.
TDS provides cloud-based workspace solutions that will complement the existing ACRE portfolio including the Vanderbilt, RS2 and Open Options brands. TDS, which was founded by Frank Hart in 1990, has developed a portfolio of products including cloud-based visitor management, life safety and access control applications.
ACRE’s CEO, Joseph Grillo, stated that this transaction will continue to expand ACRE’s competitive position.
“We believe we can assist the excellent management team at TDS to leverage our existing reseller channels and end users to help grow this business globally under the ACRE umbrella,” Grillo said.
Frank Hart, TDS Founder and CEO added, “This is the beginning of an exciting new chapter for TDS. We are delighted to join ACRE with its strong global reach, which will accelerate our growth plans and support our ambitions to be the top provider of smart workplace solutions for enterprise businesses. TDS’s senior board member Sean Murphy and I are particularly excited to work with Joe Grillo and the management team to further strengthen ACRE’s position as the global leader in the delivery of integrated technologies and services.”
Frank Hart and Sean Murphy will remain with TDS as CEO and director/board member respectively.
Financial details of the transaction were not released.