STOCKHOLM, Dec 8 (Reuters) - Swedish security services group Securitas said on Wednesday it had agreed to buy Stanley Black & Decker's electronic security solutions business for $3.2 billion, its biggest acquisition to date.
Securitas said in a statement it expected the acquisition to immediately add to its operating margin, create big cost synergy opportunities, boost its earnings per share in the first full year post completion and lead to substantial operating margin improvement over time.
"Together with Stanley Security, our largest acquisition in history, the profile of Securitas changes from a leading guarding company with electronic security and solutions capabilities, to a leading intelligent security solutions partner," Chief Executive Magnus Ahlqvist said.
Securitas expects to complete the acquisition in the first half of 2022.
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