Listed outsourcing company EOH has bought workforce management company Stanley Security Solutions SA from its US parent for an undisclosed amount.
The company, which has 200 staff members, provides solutions such as access management, and complements solutions EOH is already offering, explains EOH CEO Asher Bohbot.
EOH has been making inroads for the past 18 months into the area in which facilities infrastructure technologies and IT converge, says Bohbot.
Stanley Security Solutions SA, which was founded in 1948, has a client base of several blue chip companies in the mining, manufacturing and retail sectors, Bohbot adds. He says the company has developed its own intellectual property.
Bohbot explains US-based Stanley Security Solutions has moved out of this space to concentrate on its core security offerings. He says SA was the last unit it divested.
Stanley Security Solutions SA provides integrated building management solutions, surveillance solutions, access control hardware and software, as well as integrated security systems.
Bohbot says the company has a presence in 10 African countries. It has deployed it solutions at more than 3 000 customer sites and is headquartered in Johannesburg, with branches in Durban, Cape Town and Port Elizabeth.
The deal was funded with cash, says Bohbot. EOH, which turned over R2.4 billion in the year to July, ended the period with cash and cash equivalents of R321.5 million.
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