Telefonica to acquire 50% stake in Proseguro Alarm business for €300m.

Telefónica acquires a 50% stake in Prosegur's alarm business in Spain. This transaction, which must be submitted for approval by the appropriate authorities, represents a valuation of 50% of Prosegur's alarm business in Spain of €300m, subject to the standard adjustments in this type of transactions on debt, working capital and existing customers at the time of the closing of the transaction. In recent years, the Spanish alarm market has experienced significant growth rates. This trend is expected to increase over the next few years due to the fundamental role that security will play in the connected home. The collaboration between Prosegur and Telefónica, leading companies in their sectors, aims to capture this opportunity, given the great strategic fit and complementarity of the contributions of both partners, giving rise to an association with a vision to lead the growth of this sector. “With this agreement we welcome the leading security company as partners and future shareholders. For Telefónica, having a partner such as Prosegur will allow us to quickly advance in our desire to be more relevant in our customers lives’ with a wider offer of services for their homes” Ángel Vilá, Telefónica COO.