FAAC Group to acquire certain businesses of Assa Abloy for $112m.

FAAC Group, an automation company, agreed to acquire certain businesses of Assa Abloy, a Swedish conglomerate whose offerings cover products and services ranging from locks, doors, gates and entrance automation, for $112m. The deal was made as part of the commitments to address the competition concerns of the EU Commission in connection with the acquisition of the Swiss company agta record by Assa Abloy. The divested business includes the agta record operations in the Netherlands, Austria, Hungary and Slovenia, as well as the Assa Abloy automatic pedestrian door business in France and the UK. In addition, agta record's high-speed door business located in France is also included.