09:13 AM EDT, 06/12/2025 (MT Newswires) -- Allegion ( ALLE ) said Thursday that it has agreed through a unit to acquire Elatec, a security and access technology manufacturer, from Summit Partners, for 330 million euros ($383.6 million) on a cash-free, debt-free basis.

Allegion ( ALLE ) said it plans to fund the acquisition, which is slated to be completed in Q3, with cash on hand and borrowings under its revolving credit facility.

Allegion ( ALLE ) said it expects Elatec to generate 60 million to 65 million euros in net sales in 2026 and to be accretive to 2026 adjusted EPS.