Allegion has purchased Access Technologies, an automatic doors business, from Stanley Black & Decker for $900 million in cash.

Access Technologies manufactures, installs, and services door systems, sensors, controls, and security options. The firm invented the automatic door and continues to provide door services. Allegion specializes in door security and offers residential and commercial locks, door closer and exit devices, and workforce productivity systems.

James Loree, Stanley Black & Decker’s CEO, stated, “The sale of Access Technologies at an attractive valuation demonstrates our commitment to maximizing value for our shareholders through active portfolio management and will help fund our substantial return of capital. With a more focused portfolio – comprised of our Tools & Outdoor and Industrial segments – Stanley Black & Decker is positioned to capitalize on compelling opportunities for multi-year growth, margin expansion and long-term value creation for shareholders.”