iLOQ signs major contract with YIT

Offering the latest in Digital Access Management to Finland’s biggest operator in property development and construction

Based on the contract signed today iLOQ becomes the exclusive provider of smart locking solutions for the YIT Corporation. In accordance to the contract, iLOQ will provide its unique self-powered locking and access management solutions, along with the needed software integration, for all of YIT’s new residential smart-lock buildings. YIT is interested in technologies and services that deliver added value and improve quality of life for the people who choose to move into the residential buildings they develop.

“In the future, more and more residents will be able to enjoy the security and convenience of digital access management,” say Marko Oinas, YIT’s Senior Vice President of Business Development in charge of housing in Finland and CEE.

For iLOQ this contract clearly defines the revolutionary direction of digital access management.

“This contract shows us that the benefits of digital access management are now being recognized and appreciated across the entire residential building value chain. Our innovative products have landed us onsite with the country’s leading property developers and constructors. It is a signal that our vision of a world where digital access management will eventually replace mechanical locking all together is taking shape,” Heikki Hiltunen, CEO of iLOQ rejoices.

According to Toni Päivinen, the Head of Sales for iLOQ in Finland, “It is a big step forward to see digital access management and the flexibility and usability of residential spaces becoming a consideration already in the initial planning of new developments. Being selected by YIT to be their exclusive partner is a strong endorsement for our innovative solutions.”

Reducing everyday costs

The battery-free and programmable iLOQ S10 locking solution will deliver great convenience to the tenants of the respected properties it serves. A considerable lifecycle savings for building management, tenants and owners eliminates many costs related to everything from the replacement of locks due to lost keys, to the resources needed for everyday maintenance and management.

Among the first joint projects under the new contract will be the highly-anticipated shopping, entertainment, business and residential complex Tripla, in the Pasila area of Helsinki, where in accordance to the new contract all of the YIT constructed residential properties – with almost 400 residential units – will be fitted with iLOQ digital access management solutions.

“Together with YIT, we are excited about the new opportunities that software integration is continuously bringing to digital access management, from people flow management to applications related to the use of communal spaces such as laundry facilities and saunas. We are truly looking forward to the things we can achieve together,” Toni Päivinen sums up.

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iLOQ in brief

iLOQ is a rapidly growing Finnish company that is leading the technological revolution in the digital locking industry.

It transforms mechanical locking into digital access management. iLOQ solutions are based on technologies developed and patented by the company, enabling electronic locking without batteries or cables. iLOQ replaces mechanical and electromechanical locking systems with an environmentally friendly, battery and cable-free solution that solves the problem of lost or copied keys, lock maintenance and lifecycle costs.

YIT in brief

YIT is the biggest construction company in Finland and a major player in Northern Europe. They construct and develop apartments, business premises and entire residential areas. Furthermore, they are specialists in infrastructure construction and paving. Together with their customers, YIT’s 10,000 professionals create increasingly functional, appealing and sustainable cities and living environments. YIT has operations in 11 countries: Finland, Russia, Scandinavian and Baltic countries, the Czech Republic, Slovakia and Poland. The new YIT was created by the merger of YIT Corporation and Lemminkäinen Corporation, both over 100 years old, on February 1, 2018. In 2017, and their combined annual revenue amounted to over EUR 3.8 billion. YIT Corporation’s share is listed on Nasdaq Helsinki.