ISS, a Denmark-based provider of support services, has acquired 49 per cent stake in SDB Cisco, India’s third largest security firm, but neither firm was willing to disclose the cost of the acquisition.
A joint venture between ISS and two employee welfare trusts acquire 100 per cent of the shares in SDB Cisco. ISS will own 49 per cent of the company and the trusts 51 per cent. The sellers are Sicagen, a listed company in Chennai, and Singapore-based Certis Cisco.
SDB Cisco employs 25,000 people and provides manned guarding, cash and valuable transportation, and electronic security services.