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ACRE to Acquire Texas-Based Open OptionsACRE, a global leader providing state-of-the-art security systems, announced today it has entered into a definitive agreement to acquire Open Options based in Addison, Texas. This purchase will enhance ACRE's strategic expansion plans for strengthening its access control business and product portfolio.
For 20 years, Open Options has developed access control solutions that connect to leading security technologies to deliver a full-scale solution based on each customer's unique needs. Open Options has been a Mercury Security partner since 1997 and are dedicated to delivering the most advanced open platform access control solution available on the market. ACRE's CEO, Joseph Grillo, stated that this transaction will continue to expand ACRE's competitive position in a highly fragmented market with great growth potential. "The cquisition of Open Options boosts Vanderbilt's reach in the access control market and enhances our product portfolio with the addition of an open architecture access control solution," commented Grillo. "With the international portfolio fully integrated, it was time to turn our focus to North America." "We are pleased to join the ACRE organization with its strong global reach which will open new opportunities for the Open Options product range," said Steve Fisher, Open Options Founder and CEO. Financial details of the transaction were not released. The transaction is expected to close in the fourth quarter of 2018. About ACRE: ACRE is a global leader in the delivery of integrated technologies and services. Since its formation in 2012, ACRE has played an instrumental role in the development and implementation of security technology initiatives on a global scale. Its Vanderbilt and ComNet brands deliver advanced solutions to thousands of customers around the world. Today, ACRE employs more than 325 employees in more than 20 countries. For more information, visit www.acre-co.com About Open Options: Since its founding in 1997, Open Options has been a pioneer in the open platform community. Today, the company continues to be a leading provider of innovative access control solutions with the best service and support teams in the industry. Open Options' flagship access control platform, DNA Fusion, interfaces seamlessly with leading security technologies - including video, biometrics, wireless locks, and more - to provide customers with a best-of-breed security solution. Our open business culture and dedication to customer service is what sets us apart; when you do business with Open Options, you're doing business with real people who care about your experience. To learn more about Open Options and our solutions, visit www.ooaccess.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181217005793/en/ |
