Securitas Systems, a company which has often been confused with the similar firm Securitas that provides manned guard services across the globe, is changing its name.
Niscayah, which translates in Sanskrit to "secure and reliable", will be the new name of the Swedish firm.
Securitas Systems CEO and President said the forthcoming rebranding just made good business sense, especially in light of the confusion with the guard services provider.
"The new name Niscayah will make us more distinctive in relation to our customers," said Vallejo. "The business opportunities will thereby increase. We will find it easier to describe our business concept, business model and our offering. Consequently a change of name is good for business."
Currently Securitas Systems and Securitas partner and cooperate on products, and according to an announcement from Vallejo's office, that cooperation will be continuing.
Changing of the name is expected to begin in late April, after the name is submitted for approval at the Annual General Meeting. After April 22, the company is expected to be listed on the Nordic stock list as NISC; currently the company is listed as
The change of name will be formally submitted to the Annual General Meeting for resolution and carried into effect on April 22, 2008, after that the Company will be found on the Nordic list (mid cap) of the OMX Nordic Exchange in Stockholm under the company name Niscayah and with the ticker NISC.