Securitas enters the security services market in Singapore
Following the strategy to increase its presence in Asia, Securitas has acquired the security services company Legend Group Holding International in Singapore. Enterprise value is estimated to MSEK 56 (MSGD 10).
Legend has approximately 600 employees and annual sales of approximately MSEK 62 (MSGD 11). The company is considered as a quality services provider. In the quality rating system used by the Singapore Police, Legend enjoys an “A” rate.
The security services market in Singapore is regulated by the authorities. In total, there are approximately 55,000 registered security services guards in Singapore.
Securitas’ presence in Singapore is an important part of the company’s overall strategy for Securitas in Asia. After this acquisition, Securitas in Asia has operations in China, Hong Kong, Taiwan, Vietnam, Thailand and Singapore.
The acquisition is consolidated in Securitas AB as of July 1, 2010.
This press release is also available at: www.securitas.com
Gisela Lindstrand, Senior Vice President Corporate Communications and Public Affairs, Securitas AB, phone +46 10 470 3011, mobile +46 70 287 8662, or email email@example.com
Securitas is a knowledge leader in security. By focusing on providing security solutions to fit each customer's needs, Securitas has achieved sustainable growth and profitability in 40 countries in North America, Europe, Latin America, Middle East, Asia and Africa. Everywhere from small stores to airports, our 260,000 employees are making a difference.
Securitas AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 11.00 (CET) on July 1, 2010.