Security firm G4S has acquired Chubb Emergency Response from UTC Fire & Security, a unit of United Technologies.
G4S will pay a maximum consideration of £17m in cash for the business, £14.3m of which was paid on completion of the acquisition.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Doug Hewitson, Group Managing Director G4S Secure Solutions (UK), said: "The acquisition will significantly strengthen the strategic development plans of G4S's existing Monitoring & Response capability, allowing it to grow its patrol and response operations across the UK."
The share price rose 2.07% to 285.5p by 13:59.
NR
-
ChatGPT turns three: what’s next for the ‘AI era’?Three years after its launch kickstarted the age of AI, ChatGPT and its maker OpenAI are driving the stock market. But concerns are growing over whether OpenAI will be able to turn its AI dominance into profit.
-
What to do with old £1 coinsThe old one pound coin was demonetised in 2017, but there are still millions out there in the UK. Here’s what to do if you find an old £1.
