Stanley Convergent Security Solutions (Stanley CSS), a division of Stanley Black & Decker, formally announced on Monday that it has acquired Swedish-based systems integrator Niscayah for $1.2 billion.
The news comes more than two months after Stanley announced that it had made an offer to acquire the company for the same amount. In May, Niscayah’s former owner, Securitas, announced a $907 million bid for the systems integrator.
"We are excited to welcome Niscayah’s customers and associates to Stanley," said Brett Bontrager, senior vice President and group executive of Stanley Security Solutions. "This acquisition demonstrates Stanley's continued pursuit of its stated strategic goals to continue expanding and developing our global Security platform. Niscayah will add scale to our North American business as well as expand our presence into 12-plus countries/regions where we currently do not have a security solutions presence."
Niscayah employees more than 5,000 people in Europe and the U.S. and conducts business in a variety of vertical markets including retail, banks, gas stations, utilities, public sector companies, and transportation and lodging facilities.
According to a statement, following the completion of the acquisition, the companies’ leadership teams will "develop the best structure going forward."