Allegion, a leading global security products and solutions company, announced its acquisition of Next Door, a privately held business, to strengthen its presence in the Americas. The acquisition includes Next Door's brands and assets, and will be overseen by Allegion's senior vice president Dave Ilardi. Next Door's owner, Justin Schechter, will join Allegion to assist in the transition and drive growth for both companies. The terms of the deal have not been disclosed.
Allegion Acquires Next Door to Expand Presence in the Americas
Background:
Allegion plc is a leading global provider of security products and solutions. The company's products and services are used in various industries, including commercial, residential, and hospitality. Allegion also has a presence in over 100 countries.
Next Door is a privately held business based in the United States. The company provides facility management software and services. Next Door's software helps businesses manage their facilities, including scheduling, maintenance, and budgeting.
Acquisition Details:
Allegion announced the acquisition of Next Door on January 8, 2023. The acquisition includes Next Door's brands and assets, and will be overseen by Allegion's senior vice president Dave Ilardi. Next Door's owner, Justin Schechter, will join Allegion to assist in the transition and drive growth for both companies.
The terms of the deal have not been disclosed.
Benefits of the Acquisition:
Allegion expects the acquisition of Next Door to strengthen its presence in the Americas. Next Door's software will complement Allegion's existing security products and solutions. The acquisition will also allow Allegion to expand its reach into the facility management market.
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