Fast-growing JSE-listed IT services company EOH has bought Stanley Security Solutions SA, a company founded in 1948 and formerly part of The Stanley Works, a US-listed company. Terms of the deal have not been disclosed.

EOH CEO Asher Bohbot says the acquisition “complements” EOH’s portfolio.

Stanley Security Solutions SA was the last branch of The Stanley Works dealing with workforce management, access control, biometrics and payroll as the parent company now focuses on monitoring services for large sites and installations.

Bohbot says the company has its own intellectual property, software and hardware, all of which EOH was interested in. Stanley also has an extensive customer base in Africa outside of SA and “many blue-chip customers with multiple sites and thousands of employees”.

He says Stanley brings EOH customers in countries such as Zambia, Zimbabwe, Gabon, Ghana and Nigeria.

“The merger ties in well with our [enterprise resource planning] systems, and we have a lot of common customers,” says Bohbot. He says EOH is now positioned to provide additional services to these customers and simplify offerings for customers that previously used both EOH and Stanley services.

Stanley employs about 200 people and has in the region of 3 500 clients. There are no plans to change the management team, although EOH will look at the company’s strategic account management, branding and other aspects that EOH may wish to bring more in line with its own practices and procedures.

EOH’s share price is up by two-thirds in the past year and has a market capitalisation of R2,5bn. — Craig Wilson, TechCentral