"The acquisition is in line with Securitas strategy for the security services operations in Europe, aiming to be among the top two largest security services companies in the markets where we operate," CEO Alf Goransson said.

Reliance Security Services has a well diversified contract portfolio within guarding, mobile services, aviation security and security specialist services.

Via the acquisition, Securitas's workforce in the UK will increase by 8,000 to 12,500 employees and its annual sales in the market will triple to GBP300m.

Securitas expects the acquisition to have a positive effect on its EPS from 2012. The transaction will entail restructuring costs of a total GBP5m in 2010 and 2011. In addition, Securitas will book transaction costs of GBP1.3m in 2010. The acquisition is expected to dilute margins in the Security Services Europe unit in the fourth quarter 2010 and in the coming years, Securitas said.

The deal is subject to approval by the European Commission (EC).