Topsgroup to acquire leading American security firm for USD 250 mn

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Mumbai, Nov 19 (UNI) After acquiring a majority stake in UK- based security service firm, the security solutions major Topsgroup is all set to acquire another majority stake of 51 per cent in one of the leading US security firms for a record US 250 million dollars.

With this acquisition, aided by organic and inorganic growth in the domestic market, the Rs 1,200 crore Topsgrup will rank as the 14th largest security firm globally by end-March 2010.

In its first-ever overseas acquisition, Topsgrup had already acquired a 51 per cent majority stake in UK's leading security service provider 'The Shield Guarding Company Ltd' for an all cash deal of Rs 125 crore in May.

When contacted by UNI, the company's Global Chairman and Managing Director Dr Diwan Rahul Nanda refused to comment on the acquisition move and pricing.

The company provides services to various clients including Tatas, Birlas, Reliance, Airtel, Oracle, HSBC, Stanchart, ICICI and Future Group among others.

UNI AR SSS NP1604

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