Securitas Direct's Norwegian subsidiary, Securitas Direct AS, has signed an agreement to acquire the home alarms business of Norwegian company Hafslund. The acquisition is subject to approval from the Norwegian competition authority. Hafslund is a leading supplier of home alarms to the Norwegian market. The business has 200 employees serving 75,000 customers and recorded net sales in 2007 of NOK 260 million. The Hafslund Group is listed on the Oslo Stock Exchange and its core business is electricity generation and distribution. Securitas Direct AS is paying NOK 525 million to acquire all the shares in Hafslund Sikkerhet, including Hafslund Sikkerhet Privat AS and Hafslund Boligteknikk AS. The acquisition includes net cash of NOK 40 million in Hafslund Sikkerhet AS. Consumer alarms are Securitas Direct's core business. Dick Seger, Securitas Direct President and Chief Executive Officer, said: "This acquisition gives us access to a customer portfolio that provides a very good fit for our business and will give us added expertise and resources in areas such as sales and marketing." 150 million NOK of the purchase sum will be paid in the form of Securitas Direct class B shares, priced at SEK 27.50 per share. The company will hold an extraordinary general meeting at which the Board of Directors will ask shareholders to approve a targeted share issue to Hafslund ASA. The remainder of the purchase sum will be in cash and financed within the framework of Securitas Direct's existing credit facility. The share issue will give rise to dilution of around 2 percent. The acquisition strengthens Securitas Direct's position as Europe's leading provider of security services for homes and small businesses, and is a natural step forward in the company's growth strategy. Adding more Norwegian customers will increase scope for improving the service offering and achieving faster roll-out of the latest alarm verification technology. In the long run, this will add value for customers. Hege Yli Melhus, Hafslund Group Senior Vice President Markets, said:"The transaction is based on Hafslund's desire to take an active role in the current restructuring of the Norwegian security market. Through this transaction with Securitas Direct we are facilitating the further development of Hafslund Sikkerhet and creating a stable and customer-focused supplier of security services." Securitas Direct has the most satisfied customers in the industry An independent report by Norsk Kundebarometer confirms that, for the sixth year running, Securitas Direct's Norwegian customers are the most satisfied and loyal in the industry. This, combined with Securitas Direct having the lowest level of customer cancellations in the industry, suggests the company's services are competitive and attractive. The key to success is focus and long-term commitment. We have spent the last 20 years meeting a single need within a clearly defined customer group. For further information on Securitas Direct, please see www.securitas-direct.com. Contacts: Dick Seger, President and Chief Executive Officer Securitas Direct, tel: +46 708 218817 Robert Engen, Production Manager Securitas Direct, tel: +47 908 60288 Michael Peterson, Investor and Media Relations, tel: +46 733 221814 The information in this press release is such as Securitas Direct AB (publ) is required to disclose under the Securities and Clearing Operations Act and/or the Financial Instruments Trading Act. It was released to the market on 6 August 2008 at approximately 08:00 CET. Securitas Direct is a leading provider of high-quality security services to homes and small businesses. Our success is based on a strong growth focus, scalable concepts and highly developed local entrepreneurship. The Group operates in nine European countries: Norway, Sweden, Finland, Denmark, Belgium, the Netherlands, France, Spain and Portugal. In 2007 Securitas Direct reported net sales of SEK 3,816 million, operating profit of SEK 275 million and net customer portfolio growth of more than 15 percent. The Group had 1,000,000 customers at 30 June 2008. Securitas Direct's class B shares have been listed on the Stockholm Stock Exchange since 29 September 2006 but will be delisted on 15 August 2008.
Securitas Direct acquires Hafslund Sikkerhet and 75,000 Norwegian customers
| Source: Securitas Direct AB