Allegion plc (NYSE: ALLE), a global security products and solutions provider, has made, through one of its subsidiaries, an equity investment in European IoT mobility platform developer Conneqtech, the company said.
Founded in the Netherlands in 2014, Conneqtech develops platforms that enable connected mobility with GPS and rental tracking, specializing in IoT solutions for bicycles, as well as healthcare applications.
Conneqtech has already partnered with one of Allegion´s portable security brands, AXA, to develop the AXA Connect. The solution allows cyclists to stay in touch with their bicycles via a smartphone. Bicycles can be followed live, traced and protected against theft using a personalized app.
This is Allegion´s second European IoT investment in 2018, as Allegion Senior Vice President and President of EMEIA LÃºcia Veiga Moretti also announced a strategic investment in smart-home innovator Nuki in February. She noted that Allegion is committed to the electromechanical convergence in the security industry across all of its businesses.
Allegion is a global pioneer in safety and security, with brands like CISAÂ®, InterflexÂ®, LCNÂ®, SchlageÂ®, SimonsVossÂ® and Von DuprinÂ®. Focusing on security around the door and adjacent areas, Allegion produces a range of solutions for homes, businesses, schools and other institutions. For more, visit www.allegion.com.