Stanley Black & Decker to buy Swedish rival Niscayah for $1.2 bn

Power tools maker Stanley Black & Decker Inc today said that it has offered to buy Swedish security and surveillance company Niscayah for $1.2 billion, including debt, as the diversified company outbid rival Securitas AB to enhance its global footprint of security solutions business.

With estimated 2011 revenue of approximately $1 billion, Stockholm, Sweden-based Niscayah is one of the world's most attractive commercial security and monitoring companies and one of the largest access control and surveillance solutions providers in Europe.

Niscayah's integrated security solutions include video surveillance, access control, intrusion alarms and fire alarm systems, and its offerings include design and installation services, maintenance and repair, and monitoring systems.

The proposed acquisition would expand and complement Stanley Black & Decker's existing security product portfolio and further diversify the company's operations and international presence.

Niscayah's business is well-diversified across Northern, Central, and Southern Europe and the Nordic Region, as well as in the US. Stanley Black & Decker's existing CSS business revenues are approximately $800 million, of which Europe represents approximately $300 million.

Under the deal, Stanley Black & Decker, an S&P 500 global diversified industrial company, will pay SEK18.00 per share in cash and assume debt, taking the total trancaction value to (SEK7.6 billion ($1.2 billion).