Global security firm G4S has acquired electronic software business Instalarme for an initial cash consideration of £17.1m, and possibly £6.4m extra, subject to profits targets for 2010 being met.
IC TIP:
Buy
at
270p
The move is the group's first into the Brazilian security market, the world's fifth largest, and comes at time when the country is preparing for the FIFA World Cup in 2014 and the Olympics in 2016. Instalarme was previously owned by private equity house Axxon and is the market leader in the country's banking sector with revenues in 2009 of £15.9m. This deal adds to G4S's aim to offer big clients a global service.
When: 05/09/08
Price: 234p
Tip performance to date: +15%
