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Securitas completes Diebold acquisition
Regulatory authorities have approved Securitas’ acquisition of Diebold’s North American electronic security business. The agreement to sell was first announced in October 2015.
February 3, 2016 By SP&T Staff
The final purchase price is approximately US$350 million.
“During the past years, we have focused on strengthening our technological expertise and come far to become the leading security solutions company. With the acquisition of Diebold’s North American Electronic Security business, we will be able to further accelerate our development,” says Securitas president and CEO Alf Göransson.
The acquired business will operate under the company name Securitas, with the brand transition from Diebold planned to be complete by the end of 2016. The companies also agreed to a strategic business alliance in which Securitas will serve as Diebold’s preferred supplier for electronic security solutions in North America, and Diebold will be Securitas’ preferred provider of ATM-related solutions and services.
In addition, as part of the transaction, Diebold and Securitas have entered into a transition services agreement (TSA) to ensure a seamless customer experience. Effective immediately, the TSA period is 12 months and provides Securitas the ability to leverage existing Diebold services, systems and physical assets to fully support its customers during the transition.
Securitas provides a broad range of services of specialized guarding, technology solutions and consulting and investigations.
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