The largest security company in the world is spinning off
its burglar alarm business. 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.
Bloomberg reports that Securitas managers feel 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.
Securitas’ electronic security presence in the United
States includes TARGET=’_blank’>Kansas City-based security systems
installer Wornall Electronics Inc. and Pasadena, Calif.-
based Hamilton Pacific.
The separate company, which includes the U.S.-based
Securitas Security Systems USA Inc., will continue to
install and service security systems.
At one point, Securitas was a serious bidder for electronic security provider Chubb in 2002 before it ended up being purchased by United Technologies Corp.
