Securitas Electronic Security has completed its $70 million cash acquisition of the public safety and security business from Kratos Defense and Security Solutions.
Eric DeMarco, president and CEO of Kratos, said in a statement released Monday the company aims to focus growth efforts in the unmanned aerial drones, missile defense, training systems, microwave electronics and satellite communications markets.
Canaccord Genuity served Kratos’ financial adviser in the transaction and Paul Hastings acted as its legal counsel.
Ohio-based Securitas Electronic Security maintains a portfolio of video, access, intrusion, fire and integrated technology products.
