Sweden’s Securitas to buy electronic security business of Diebold for $350 mn

Sweden-based global security solutions provider Securitas today struck a deal to buy the electronic security business of US-based ATM maker Diebold for $350 million (MSEK 2900 million).

The proposed deal comes a year after Securitas acquired Belgian security and critical communications systems integrator SAIT, and a 24-per cent stake in the US remote video services company Iverify.
 
Based in Ohio, Diebold´s North American Electronic Security business is the third largest commercial electronic security provider in North America. 

It is a leading provider of electronic security solutions and services to business customers. Its monitoring services include intrusion alarms, fire alarms and sprinklers, and monitoring of elevators. 

Diebold´s North American Electronic Security business has approximately 1,100 employees. The operation includes more than 55, 000 monitored customer locations and 200 000 sites serviced.

Securitas and Diebold believe that this deal is to the benefit of both parties. Securitas will serve as Diebold's preferred supplier for electronic security solutions. 

Alf Goransson, president and CEO, Securitas says this acquisition supports Securitas' global strategy and strengthens Securitas' position as the global knowledge leader in security solutions and technology.

"During the past years, we have focused on strengthening our technological expertise and come far to become the leading security solutions company. Securitas is at the forefront of the transformation of the security industry and we receive proof of this every day, in our interaction with existing and potential customers,'' he said.

The Stockholm Stock Exchange-listed company operates in 54 markets in North America, Europe, Latin America, Africa, the Middle East and Asia, and employs around 320,000 people.

In 2014, Securitas had sales of $8.28 billion and net income of $243 million.

The acquisition expected to close during first quarter of 2016, is subject to regulatory approval.