SOFIA (Bulgaria), March 13 (SeeNews) - Bulgaria's security services provider SOT has received regulatory approval to acquire control of local peer Security Holding, the Bulgarian competition authority said.
Since the combined market share of the two companies will not surpass 40%, the acquisition will not lead to the establishment of a dominant position on the security services market, the Commission for Protection of Competition (CPC) said in a statement on Friday.
According to CPC's calculations, SOT had a market share of 20-30% in 2015, while Security Holding held a share of up to 5%.
Privately-held SOT, established in 1994, is the first company in Bulgaria specialized in guarding sites using security alarm systems. The Sofia-based company provides security alarm services, physical guarding of property, and specialized security, such as guarding of valuables and cargo, personal protection and guarding of mass events.