LONDON (Alliance News) - Newmark Security PLC said Monday that its subsidiary Safetell Limited has acquired the security installations division of Gunnebo UK Limited, part of Sweden's Gunnebo AB, for GBP118,000, payable in cash.
Gunnebo provides products and services for security. Its security installation division provides bulletproof security screens and other products to protect sites - such as those in banking, government and retail - newthat are at risk of attacks by criminals or terrorists.
"Gunnebo UK Limited will continue to promote and sell the GSI product range to its customer base while the project management and installation activities will be handled by Safetell," said Chief Executive Officer of Newmark Marie-Claire Dwek in a statement. "This strategic partnership will benefit Gunnebo's valued customers and improve the quality and range of products and services, whilst Safetell will pursue new marketing opportunities with an expanded product range backed by an experienced team."
Shares in Newmark were trading down 2.7% at 1.41 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Newmark Security (NWT)