STOCKHOLM, Jan. 9, 2020 /PRNewswire/ -- Securitas reinforces its leadership position within the electronic security market in Spain through the acquisition of Techco Security, a leading electronic security company. The purchase price is estimated to MEUR 22 (MSEK 230).
Techco Security offers a comprehensive range of integrated security services including installation, maintenance and remote guarding services as well as access control, electronic alarm surveillance and fire protection, and supports clients through two operations centers in Madrid and Barcelona. The company has approximately 520 employees with a strong footprint across Spain and Portugal. Techco Security's annual sales was MEUR 50 (MSEK 520) in 2018. The purchase price is estimated to MEUR 22 (MSEK 230).
"We are pleased to welcome Techco Security's clients and team onboard for an exciting journey together with Securitas. The acquisition represents an important milestone in the transformation of our company. We will have an even stronger position in delivering quality electronic security services to our clients and we will continue growing the business together with the team", says Jorge Couto, Divisional President, Security Services Ibero-America.
Securitas is leading the transformation of the global security industry, from traditional guarding to a wide range of protective services, including on-site, mobile and remote guarding, electronic security, fire and safety and corporate risk management. In the full year of 2018 security solutions and electronic security sales represented 20 percent, or approximately BSEK 20, of total Group sales. Securitas ambition for its security solutions and electronic security business is to double the size from approximately BSEK 20 in 2018 to approximately BSEK 40 in 2023.
The acquisition was closed and consolidated into Securitas on January 8, 2020.