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Securitas to acquire Diebold NA electronic security business

Following the acquisition, Securitas will serve as Diebold’s preferred supplier for electronic security solutions, the companies say.

October 27, 2015

Sweden-based Securitas has agreed to acquire the commercial contracts and operational assets of the North American electronic security business of Diebold Inc., the companies announced on Monday. Once acquired, the business will operate as Securitas Electronic Security Inc.

According to a press release, Diebold's Green, Ohio-based security business is the third largest commercial electronic security provider in North America, and has provided comprehensive electronic security solutions and services to business customers for 70 years.

Today the business boasts approximately 1,100 employees and capabilities that include design and build, integration, installation, monitoring and service.

Monitoring services include intrusion alarms, fire alarms and sprinklers, and elevators. The operation includes more than 55,000 monitored customer locations and 200,000 sites serviced, according to the release.

Sales for the operation from June 30, 2014 through June 30, 2015, total $330 million. The purchase price is approximately $350 million, which according to Securitas calculations, equals approximately 11 times the division's estimated EBITDA for 2015.

Following the acquisition, Securitas will serve as Diebold’s preferred supplier for electronic security solutions, the release said. Tony Byerly, who has led the business for the past three-and-a-half years, will continue as president, reporting to Santiago Galaz, divisional president of Securitas Security Services North America.

The acquisition is subject to regulatory approval. Closing is expected during first quarter of 2016.

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