Securitas strengthens tech offering in US
Securitas has acquired 24 percent of the shares in the Remote Video Services Company Iverify in the USA. Simultaneously Iverify has acquired 100 percent of the shares in the technology solutions company TransAlarm. The purchase price for the 24 percent stake amounts to approximately MSEK 145.
Iverify is one of the leading Remote Video Services companies in the United States and operates a state-of-the-art Remote Video operations monitoring center, one of the largest of its kind and headquartered in Charlotte, North Carolina.
TransAlarm is a security technology integrator headquartered in Minnesota, operating a large network of over 400 installers capable of covering the entire United States, Puerto Rico and Canada.
With this acquisition, Securitas will have a 24 percent ownership position in the combined operations of Iverify and TransAlarm. Driehaus Private Equity is Securitas´ co-partner in this transaction. Iverify will continue to be headquartered in Charlotte, North Carolina, and the two monitoring centers of the combined operations will serve as back-ups to each other. The joint operation employs 300 people.
“Securitas has set a target to triple the Group’s sales of security solutions and technology from 6 percent in 2012 to 18 percent by year-end 2015. The acquisition supports the Group’s strategy and strengthens Securitas’ position in the USA as an integrated security solutions provider. The acquisition also facilitates the creation of alternatives to implement the Affordable Care Act in the USA, and emphasizes as well the long term value it will bring in creating security solutions for our customers”, says Securitas President and CEO Alf Göransson.
“Iverify and TransAlarm are a perfect match. They are both leaders in their industry and deliver complementary services. The new Iverify that emerges from this transaction will provide reliable solutions towards our customers for our Remote Video Services as well as have the capacity for installing the associated technology. All of this with a US nationwide reach,” says Securitas Divisional President of Security Service North America Santiago Galaz.
Securitas has approximately 104 000 employees in North-America, providing on-site guarding, mobile services and remote guarding, and risk management and consulting services.
The acquisition is included as an associated company in Securitas as of June 1, 2014.