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Sweden's Securitas to buy Turkish electronic security firm Tepe Guvenlik

Sweden's Securitas to buy Turkish electronic security firm Tepe Guvenlik Photo: Pixabay

ANKARA (Turkey), August 2 (SeeNews) - Swedish security services provider Securitas AB said it has agreed to acquire Turkish electronic security company Tepe Guvenlik in a 10 million euro ($11.8 million) deal as part of its strategy to bolster services offering and sales.

The agreed purchase is expected to significantly enhance Securitas’s position in the monitoring market in Turkey, the buyer said in a press release on Friday.

Tepe Guvenlik specialises in electronic security solutions, alarm systems and alarm monitoring for corporate clients, SMEs and residential customers. It has 250 employees and operations mainly in Ankara and Istanbul. The business reported around 8.5 million euro in sales for 2020.

“We are pleased to welcome Tepe’s experienced team to Securitas and look forward to further developing our presence in and bringing innovations and solutions to our clients,” Peter Karlstromer, divisional president Security Services Europe at Securitas, said in the press release.

The transaction, which hinges on regulatory clearances, is expected to close in the third quarter of 2021.

Securitas offers on-site guarding, electronic security, fire and safety services and corporate risk management. It is present in 48 markets and employs 355,000 people. The company serves more than 150,000 clients.

($=0.8413 euro)