| Securitas’ worldwide strategy is to increase security solutions and technology as a part of the offering |
Securitas has agreed to acquire the commercial contracts and operational assets of Diebold Incorporated’s Electronic Security business in North America, and will operate as Securitas Electronic Security Inc.
Increased earnings
The 12-month sales of the acquired Diebold Electronic Security operation, from June 30, 2014 through June 30, 2015, are MSEK 2 760 (MUSD 330). The purchase price is approximately MSEK 2,900 (MUSD 350) on a debt-free basis including a normalised working capital, which according to Securitas' calculations equates to approximately 11x estimated EBITDA for 2015, of the acquired operation after it has been separated from Diebold Incorporated. The acquisition will be accretive to Securitas earnings per share as of 2016.
Diebold´s North American Electronic Security business, based in Green, Ohio, USA, is the third largest commercial electronic security provider in North America. For more than 70 years, Diebold´s North American Electronic Security business has brought together technology innovations, security expertise and quality services to become a leading provider of comprehensive electronic security solutions and services to business customers. Today the operation delivers a full spectrum of capabilities including design, build, integration, installation, monitoring and service providing compelling value propositions to customers. The 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’ worldwide strategy is to increase security solutions and technology as a part of the offering.