Electronic security integration company Securitas Systems is expanding its foothold in Germany with the acquisition of F+H Electronic. The purchase especially strengthens Securitas Systems ability to serve the industrial and banking markets, where F+H Electronic has been well positioned.
The cost of the acquisition was not disclosed, but Securitas did not that F+H Electronic saw annual revenues of approximately 4.5 million Euros ($6.1 million USD). Securitas Systems said the acquisition will only marginally affect its 2007 sales. The acquisition was completed today.
Juan Vallejo, CEO and President of Securitas Systems, called F+H Electronic "a company with high capabilities" in delivering today's complex, integrated security systems.
"With this acquisition we will secure and strengthen our position in security systems integration on the German market,â€ added Vallejo, in a statement announcing the acquisition.