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Allegion (ALLE) Closes Plano Deal, Boosts Interflex Portfolio
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Allegion (ALLE - Free Report) has completed its previously announced acquisition of the assets of Plano Group, a software-as-a-service (SaaS) workforce management solutions company.
Plano has long been a development partner for Allegion’s European workforce management brand, Interflex, and its SP-EXPERT software platform. As part of the Interflex portfolio, Plano continues to serve advanced workforce management (AWFM) customers.
The acquisition expands ALLE’s Interflex portfolio and its AWFM business with new capabilities in SaaS models and recurring revenue solutions. It helps Allegion expand its presence in lucrative end markets such as healthcare, banking and insurance, call centers, retail and municipal government services.
Allegion’s focus on strengthening its competency through business acquisitions should fuel growth. In July 2022, the company acquired Stanley Black & Decker, Inc.’s Access Technologies Business for $900 million. With this acquisition, ALLE has been able to enhance its access, egress and access control solutions offerings.
Allegion’s acquisition of certain assets of Astrum Benelux B.V. and WorkforceIT B.V. in July 2021 enhanced its Interflex portfolio’s cloud and mobile solutions along with SaaS capabilities. In January 2021, ALLE closed the buyout of the technology company Yonomi, strengthening its smart-home solutions offerings.
Zacks Rank & Other Key Picks
Allegion currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks worth considering within the broader Industrial Products sector are as follows:
MRC Global has an estimated earnings growth rate of 325.9% and 37.4% for 2022 and 2023, respectively. Shares of the company have rallied 11.9% in the past six months.
IDEX Corporation (IEX - Free Report) presently carries a Zacks Rank #2. The company delivered a trailing four-quarter earnings surprise of 5.7%, on average.
IDEX has an estimated earnings growth rate of 28.4% and 6.1% for 2022 and 2023, respectively. Shares of IEX have gained 25% in the past six months.
EnerSys (ENS - Free Report) delivered a trailing four-quarter earnings surprise of 27.1%, on average. ENS presently carries a Zacks Rank of 2.
EnerSys has an estimated earnings growth rate of 7.2% and 26.3% for fiscal 2023 and 2024, respectively. The stock increased 22.8% in the past six months.
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Allegion (ALLE) Closes Plano Deal, Boosts Interflex Portfolio
Allegion (ALLE - Free Report) has completed its previously announced acquisition of the assets of Plano Group, a software-as-a-service (SaaS) workforce management solutions company.
Plano has long been a development partner for Allegion’s European workforce management brand, Interflex, and its SP-EXPERT software platform. As part of the Interflex portfolio, Plano continues to serve advanced workforce management (AWFM) customers.
The acquisition expands ALLE’s Interflex portfolio and its AWFM business with new capabilities in SaaS models and recurring revenue solutions. It helps Allegion expand its presence in lucrative end markets such as healthcare, banking and insurance, call centers, retail and municipal government services.
Allegion PLC Price
Allegion PLC price | Allegion PLC Quote
Allegion’s focus on strengthening its competency through business acquisitions should fuel growth. In July 2022, the company acquired Stanley Black & Decker, Inc.’s Access Technologies Business for $900 million. With this acquisition, ALLE has been able to enhance its access, egress and access control solutions offerings.
Allegion’s acquisition of certain assets of Astrum Benelux B.V. and WorkforceIT B.V. in July 2021 enhanced its Interflex portfolio’s cloud and mobile solutions along with SaaS capabilities. In January 2021, ALLE closed the buyout of the technology company Yonomi, strengthening its smart-home solutions offerings.
Zacks Rank & Other Key Picks
Allegion currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks worth considering within the broader Industrial Products sector are as follows:
MRC Global Inc. (MRC - Free Report) presently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of approximately 103%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
MRC Global has an estimated earnings growth rate of 325.9% and 37.4% for 2022 and 2023, respectively. Shares of the company have rallied 11.9% in the past six months.
IDEX Corporation (IEX - Free Report) presently carries a Zacks Rank #2. The company delivered a trailing four-quarter earnings surprise of 5.7%, on average.
IDEX has an estimated earnings growth rate of 28.4% and 6.1% for 2022 and 2023, respectively. Shares of IEX have gained 25% in the past six months.
EnerSys (ENS - Free Report) delivered a trailing four-quarter earnings surprise of 27.1%, on average. ENS presently carries a Zacks Rank of 2.
EnerSys has an estimated earnings growth rate of 7.2% and 26.3% for fiscal 2023 and 2024, respectively. The stock increased 22.8% in the past six months.