Securitas Spins Off Electronic Security Business

STOCKHOLM, Sweden — The largest security company in the world, Stockholm, Sweden-based Securitas, says it is selling off its electronic security and armored car units into separate companies and will concentrate strictly on manned security guards.

Securitas’ leadership says the entities will perform better as independent companies. They cite Securitas’ selling off in 1994 of ASSA ABLOY, parent company of access control-maker HID Corp., as an example of a former Securitas company reaching new heights.

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