International. Allegion has signed, through its subsidiaries, a definitive agreement to acquire assets of plano.group ("plano"), a software-as-a-service (SaaS) workforce management solution. The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
Based in Germany, plano has long been a service provider and development partner for Allegion's European workforce management brand, Interflex, and its SP-EXPERT software platform. Following the closing of the acquisition, plano will continue to serve Advanced Workforce Management (AWFM) customers as part of Interflex's portfolio.
Interflex CEO Bernhard Sommer said this acquisition will accelerate continued access, driving the expansion of Interflex and its AWFM business with new capabilities in SaaS models and recurring revenue solutions.
"This strategic acquisition represents a significant expansion of our position as a market leader in workforce management, while underscoring our commitment to growing and meeting customer needs through investment in software solutions," said Sommer. "It will add mobile software engineering talent to our business, while deepening our presence in attractive end-user markets such as healthcare, banking and insurance, call centers, retail and municipal government services. At the same time, it will drive the expansion of the Plano software platform and offer a broader set of services to Plano and Interflex customers."
Flat business founder Robert Schüler will join Interflex, helping to ensure seamless integration and driving progress on the AWFM software business strategy.
"This acquisition will be a natural evolution for plano, providing significant capital resources, scale and demand generation," Schüler said. "Our long-standing relationship with Interflex will support an efficient transition that benefits our customers and builds on our mutual reputation for quality and excellence."
The agreement to acquire plano follows another recent investment in Interflex's AWFM business: Allegion's acquisition of assets from Astrum Benelux B.V. (Belgium) and WorkforceIT B.V. (Netherlands) in 2021.
Terms of the blueprint transaction were not disclosed.
* Pictured: Robert Schüler (left), flat leader, and Bernhard Sommer (right), CEO of Interflex.