Swedish security services firm Securitas said on Friday it had signed a deal to buy a 49 percent stake in Indian peer Walsons as part of its strategy to grow in Asia.
Securitas said in a statement on Friday it would pay 107 million Swedish crowns ($17 million) for the holding.
“The Indian security services market is estimated to be worth about 3,000 million crowns and is expected to grow by at least 20 percent annually in the coming five years,” Securitas said in a statement.
It said Walsons is the fourth largest Indian security services company with annual sales of 76 million crowns.(Reuters)