Allegion plc ALLE has signed a definitive agreement to acquire assets of software-as-a-service (SaaS) workforce management solutions company, Plano Group, through one of its subsidiaries. Terms of the agreement were not disclosed.Plano has long been a development partner for Allegion’s European workforce management brand, Interflex, and its SP-EXPERT software platform. As part of the Interflex portfolio, Plano will continue to serve advanced workforce management (AWFM) customers after the closure of the acquisition, expected in the first quarter of 2023.The acquisition will expand the Interflex portfolio and its AWFM business with new capabilities in SaaS models and recurring revenue solutions. It will help Allegion expand its presence in lucrative end markets such as healthcare, banking and insurance, call centers, retail and municipal government services.Allegion PLC Price Allegion PLC price | Allegion PLC QuotePost completion of the transaction, Plano’s founder, Robert Schüler, will join Interflex. Bernhard Sommer, general manager of Interflex said, "This strategic acquisition represents a significant expansion of our position as a market leader in workforce management while underscoring our commitment to growth and meeting customer needs through investment in software solutions."Zacks Rank & Key PicksAllegion currently carries a Zacks Rank #3 (Hold).Some better-ranked companies within the broader Industrial Products sector are as follows:Enerpac Tool Group Corp. EPAC delivered an average four-quarter earnings surprise of 3.4%. EPAC presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks.Enerpac Tool’s estimated earnings growth rate for the current fiscal year is 44.6%. Shares of the company have jumped approximately 30% in the past six months.Applied Industrial Technologies, Inc. AIT presently flaunts a Zacks Rank #1. The company delivered a trailing four-quarter earnings surprise of 24.8%, on average.Applied Industrial has an estimated earnings growth rate of 14.3% for the current fiscal year. Shares of the company have gained 19.6% in the past six months.IDEX Corporation IEX presently has a Zacks Rank of 2 (Buy). IDEX pulled off a trailing four-quarter earnings surprise of 5.7% on average.IDEX has an estimated earnings growth rate of 28.3% for the current year. Shares of the company have rallied 19.4% in the past six months. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis Report IDEX Corporation (IEX): Free Stock Analysis Report Allegion PLC (ALLE): Free Stock Analysis Report Enerpac Tool Group Corp. (EPAC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research