Stanley Black & Decker, global diversified industrial company, completes its acquisition of Niscayah Group AB, security and monitoring company specializing in electronic security services and solutions based in Stockholm, Sweden. Stanley Black & Decker is paying SEK 18.00 per share and SEK 0.05 per warrant in cash and the total transaction value including assumed financial debt is SEK 7.6 billion - i.e. USD 1.2 billion.
"The completion of our acquisition of Niscayah is an important step in both the ongoing expansion of one of our key growth platforms. Convergent Security Solutions (CSS) and the diversification of the Company's operations and international presence," said John F. Lundgren, President and Chief Executive Officer.
"The addition of Niscayah to CSS enhances our ability to serve our customers by giving us expanded product offerings and a wider geographic footprint in the highly attractive commercial security sector. We are pleased to have completed this transaction, which we expect to result in substantial synergies and be meaningfully accretive, and now look forward to proceeding with the integration process.", Lundgren added.
Stanley Black & Decker expects the transaction to result in annual cost savings of approximately USD 80 million, more than half of which would be realized by the end of year one after closing.
