Hotel Locks Are Becoming Software as Dormakaba Buys Alliants

Swiss access giant dormakaba has agreed to acquire Alliants, the UK-based hotel technology company behind digital keys, guest messaging, check-in, payments and concierge tools used by major hotel groups. Financial terms were not disclosed, and dormakaba said the deal is expected to close later in 2026 following regulatory approval. The acquisition is small relative to dormakaba’s scale. Alliants’ latest reported annual revenue is less than half of 1% of the buyer’s sales, underscoring that this is a capability acquisition rather than a revenue acquisition. Dormakaba generated CHF 2.79 billion (about $3.4 billion) in revenue in the year through June 2026, with CHF 449 million (about $546 million) in adjusted EBITDA and a 16.1% margin. The Swiss-listed co