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SDS is a leading provider of critical risk, medical, training and security services to bluechip organisations across Australia. SDS offers differentiated, highly specialised services to its clients, performed by experienced and credentialed professionals and enabled by a built built-for-purpose training platform. For the financial year ended 30 June 2022, the revenue of SDS stood at AUD 23 million.
SIS Australia Group already held 85% shareholding of SDS, through this transaction it proposes to acquire an additional 15% shareholding of SDS.
The company's objective of this acquisition is that it sees SDS as strategic fit and complementary to the ‘strategic medical' business of SIS Group in Australia. This acquisition will make SIS Group, Australia's largest emergency services provider.
The company said that the cost of acquisition will be determined based on a formula related to the performance of SDS in 2 years. The acquisition is estimated to be completed by 30 September 2024.
“All the required approvals have been obtained/will be obtained prior to the acquisition”, said SIS.
SIS offers a wide range of services comprising security services, cash logistics services and electronic security and home alarm monitoring and response, as well as facility management services.
The firm's consolidated net profit surged 39.2% to Rs 82.43 crore on 12.6% rise in net sales to Rs 2,678.18 crore in Q1 FY23 over Q1 FY22.
Share of SIS were down 0.36% to Rs 453.25 on the BSE.
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