Stanley Black & Decker’s planned acquisition of Niscayah has cleared the U.S. Federal Trade Commission’s mandatory waiting period, meaning that all U.S. antitrust conditions to the offer have been satisfied. Niscayah is a Stockholm-based developer of electronic security services and systems for commercial security and monitoring. Last month the power tool/hand tool manufacturer opened an offer to acquire all outstanding shares of the group’s common stock, valued at $1.2 billion.

In late June the independent committee of Niscayah’s board unanimously recommended that shareholders and warrant holders accept the offer. Niscayah had been facing an unsolicited takeover offer from the private-security firm Securitas AB, which made a $908 million bid but declined to enter into a bidding war.

Stanley has said its also represents a 24% premium over the Securitas bid.

Stanley Black & Decker president and CEO John F. Lundgren said the bid is “consistent with our strategy to build on our attractive growth platforms and create value for … shareholders. Niscayah is a company we know well and is an ideal fit with our Convergent Security Solutions business as it brings complementary geographic strength and services, affords substantial synergies, strengthens our customer value proposition and enhances our growth potential in the highly attractive commercial security sector.”

Niscayah’s product line includes video surveillance, access control, intrusion alarms and fire alarm systems, and its offerings include design and installation services, maintenance and repair, and monitoring systems.

Lundgren continued: “This acquisition also provides us with an excellent opportunity to utilize our offshore cash for a transaction that is expected to produce meaningful EPS accretion immediately. Our electronic security solutions team has requisite skills and experience to integrate Niscayah successfully as they have with HSM, Sonitrol, Générale de Protection, and most recently, ADT France.”
 

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