Mobeus invested £11 million in Access-IS, leading to a successful exit with a 2.5x return upon its sale to HID Corporation Ltd.
Information on the Target
Access-IS specializes in developing innovative, miniaturized devices that include passport and ticket readers. These technologies facilitate rapid, safe, and secure movement for individuals around the globe—an imperative need highlighted by the challenges posed by the recent pandemic. Utilizing advanced engineering techniques, Access combines document imaging, barcode reading, NFC and RFID decoding, along with contactless payment systems. Trusted by major global brands, Access devices are operational in over 200 airports, processing upwards of 100 million transactions daily.
Industry Overview in the Target’s Specific Country
The access solutions industry in the United Kingdom has experienced significant growth over recent years, driven by advancements in technology and increasing demand for efficient security measures across various sectors. The introduction of contactless systems has transformed the transportation and travel sectors, reflecting a broader global trend towards seamless user experiences.
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Moreover, the UK's commitment to enhancing security measures post-pandemic has resulted in substantial investments in high-tech security solutions. Com
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HID Corporation Ltd
invested in
Access-IS
in 2020
in a Late-Stage VC deal
Disclosed details
Transaction Size: $28M
Revenue: $24M