The Agta Record Group is a well established manufacturer of automatic entrance systems. The Group is headquartered in Fehraltorf, Switzerland and has 1,700 employees. Agta Record's sales for 2009 amounted to EUR 222 M.

"The stake in Agta Record further strengthens our successful expansion within the entrance automation area. We are supportive of Agta Record's strategy and management and will seek to engage with majority and other shareholders regarding acquisition of additional shares," says Johan Molin, President and CEO of Assa Abloy.

The purchase price is EUR 25 per share and involves approximately 4.4 million shares. The acquisition is subject to anti-trust approvals.