Sweden's Securitas Buys Stanley Black & Decker Unit For $3.2 Bn

Sweden's Securitas will buy the electronic security solutions division of US group Stanley Black & Decker for $3.2 billion (2.85 billion euros), its biggest acquisition ever, it said on Wednesday

Stockholm, Dec 8 (APP - UrduPoint / Pakistan Point News - 8th Dec, 2021 ) :Sweden's Securitas will buy the electronic security solutions division of US group Stanley Black & Decker for $3.2 billion (2.85 billion Euros), its biggest acquisition ever, it said on Wednesday.

Securitas said the aim was to help it increase its sales in the field of electronic security solutions.

"Together with Stanley Security ...

the profile of Securitas changes from a leading guarding company with electronic security and solutions capabilities, to a leading intelligent security solutions partner," Chief Executive Magnus Ahlqvist said in a statement.

The deal is expected to be concluded in the first half of 2022.

Costs linked to the acquisition will amount to around $135 million, most of which will be booked in 2022 and 2023, it said.