ASSA ABLOY to Sell HID's PKI Business Unit to Vista Equity Partners

ASSA ABLOY has entered into an agreement to sell its HID Public Key Infrastructure (PKI) business unit to the private equity firm Vista Equity Partners. The divestment is part of ASSA ABLOY's strategic focus on its core security operations.

The PKI business unit offers solutions for digital trust, identity, authentication, encryption, and certificate management. Its offerings include PKI Software-as-a-Service (SaaS) platforms such as IdenTrust and HydrantID, alongside credential management and ZeroSSL solutions. These technologies are foundational for securing online transactions and communications.

The business unit, previously operating under HID Global, specializes in identity and access solutions. ASSA ABLOY stated that the sale will enable the PKI business to further develop under Vista's ownership, which focuses on technology investments. This move allows ASSA ABLOY to streamline its portfolio and concentrate on its global security markets.

Nico Delvaux, President of ASSA ABLOY, expressed satisfaction with the agreement, highlighting Vista Equity Partners as a committed long-term investor for the PKI unit. The transaction's financial terms were not disclosed. The deal is expected to close later in 2023, subject to customary closing conditions.