There’s big money in keeping prying digital eyes out from where they don’t belong, and Swedish security firm Securitas is putting $350 million on the table to prove it.
Securitas announced Sunday (Oct. 25) that it had spent $350 million to acquire Diebold Incorporated’s North American Electronic Security operations. Securitas will remain as parent company, with the new division being renamed to Securitas Electronic Security, Inc. Alf Göransson, president and CEO at Securitas, explained that acquiring Diebold’s North American digital security division allows his organization to cement itself as a comprehensive leader in its field.
“During the past years, we have focused on strengthening our technological expertise and come far to become the leading security solutions company,” Göransson said in a statement. “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. With the acquisition of Diebold’s North American Electronic Security business, we will be able to further accelerate our development.”
The move is already paying off for Securitas, as news of the acquisition caused the company’s shares to spike by 4 percent, Reuters reported. However, there are still some remaining financial matters Securitas needs to account for, namely an extra $7 million to split Diebold’s North American operations from its mother organization. Most of Diebold’s executive leadership, including Tony Byerly, director of North American operations since 2011, will stay on through the transition.
“We welcome Tony and his entire team to Securitas,” Santiago Galaz, divisional president of Securitas Security Services North America, said in a statement. “With this acquisition, we will have the ability to increase our security solutions sales, while also being an active player in the technology market, which will bring added value to our customers and make our offer much stronger.”
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