Securitas Acquires German Electronic Security Firm Protection One.
MANews-(C)2009-2021
Swedish intelligent protective services partner Securitas has agreed to acquire remote technology-driven security solutions and electronic security specialist German Protection One, the company said.
The acquisition will enhance Securitas' protective services capabilities in Germany and is in line with the Group's strategy of doubling its security solutions and electronic security sales by 2023.
The purchase price is approximately EUR 72m (USD 93.77m) on a debt-free basis.
In 2020, Protection One's annual sales were more than EUR 33m, of which over 90 % were on a recurring monthly revenue basis.
The company has 230 employees in Germany and is present at 12 locations with the operation center based in Meerbusch, offering remote monitoring services with 24/7...
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