Security and Intelligence Services (SIS) has received approval for the acquisition of shares in SIS Prosegur Alarm Monitoring and Response Services (SPAMRS) from Singpai Alarms. The acquisition is expected to complete in April 2019.
The Company is currently a 50% shareholder in SPAMRS and this acquisition would result in SPAMRS becoming 100% subsidiary of the Company. It is expected that this acquisition would result in a greater alignment with the group’s strategy and would also enable the integration of the business of SPAMRS with the existing business.
SIS is a leading provider of private security and facility management services in India.