Amtech to Acquire Cardkey Systems’ Assets

Amtech Corp., a Dallas producer of electronic identification systems, says it has agreed to acquire nearly all the assets of Cardkey Systems, a maker of electronic card-access equipment that is based in Simi Valley.

Amtech said it will purchase Cardkey from Assa Abloy AB, a Swedish lock manufacturer, for about $24 million.

Amtech will initially pay about $18 million in cash, with further payments of $3 million in both 1997 and 1998, according to Dow Jones News Service. The deal is expected to be closed within 60 days.

Cardkey, with 1994 sales of about $65 million, is slightly larger than Amtech. The latter had sales of $61 million last year.

Amtech said it sees “significant” profit potential from the acquisition starting next year.