Stanley Black & Decker Inc., the largest U.S. toolmaker, completed its 7.6 billion kronor ($1.2 billion) acquisition of Niscayah AB, bolstering its presence in video surveillance and fire-alarm systems.
The purchase will generate savings of $80 million annually and may boost earnings per share by 20 cents in the first year and 45 cents in the third year, New Britain, Connecticut-based Stanley Black & Decker said today in a statement.
Stanley Black & Decker in June outbid Securitas AB, which offered $910 million. With the purchase of Stockholm-based Niscayah, Stanley Black & Decker aims to boost sales of electronic security doors and alarms in Europe.
The deal received backing by an independent committee of Niscayah’s board, shareholders with about 19.5 percent of the stock and Melker Schorling AB, the second-biggest shareholder by votes in Securitas and Niscayah.
Securitas spun off three of its divisions between 2006 and 2008, including Niscayah, then called Securitas Systems.
Stanley Black & Decker already offers electronic security services in Europe. In March 2010, it bought ADT France, an acquisition that was an “indication” of its “continuing strategic intent to expand the security segment internationally,” according to its annual report.