Securitas Completes Acquisition of Kratos Public Safety and Security Division
11 Jun, 2018, 19:10 BST
STOCKHOLM, June 11, 2018 /PRNewswire/ --
Regulatory authorities have approved Securitas' acquisition of the division Kratos Public Safety and Security from Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS).
As disclosed on February 28, Securitas has agreed to acquire Kratos Public Safety and Security (KPSS), a top 10 system integrator in the United States. The purchase price is approximately MSEK 600 (MUSD 69) on a cash and debt-free basis. The acquisition is expected to be neutral to Securitas earnings per share in 2018 and 2019, and accretive as of 2020. The operation has annual sales of approximately MSEK 1 175 (MUSD 135) and includes 400 employees.
KPSS, which is to be combined with Securitas Electronic Security, Inc., aligns well with Securitas Electronic Security's current operations and strategic focus. The acquisition will expand Securitas' electronic security platform in the United States by strengthening field operation capabilities and adding local branch infrastructure with highly skilled employees. It supports Securitas' strategy of providing protective services across the entire Securitas North American customer base, and brings increased value to our customers.
The acquisition is consolidated in Securitas as of June 11, 2018.
This press release is also available at: www.securitas.com
Information:
Micaela Sjökvist, Head of IR and Acting SVP Corporate Communications and Public Affairs, Securitas AB, mobile +46-76-116-7443 or email micaela.sjokvist@securitas.com
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SOURCE Securitas