Viking's Safetel merges with GMT's Multicom Security

The deal sees Safetel, which is backed by Viking Ventures, Follum Invest, Skaugen, come under the same holding company as GMT-backed Multicom Security. Following the transaction, GMT will hold a 60% stake in the new holding company, while Safetel's backers will take the remaining 40%.

The deal is part of a wider consolidation strategy across the security market in the Nordics.

The newly-joint owners are currently investigating whether the two companies will legally merge in 2015.

Previous investment
GMT first invested in monitored alarm transmission services company Multicom in February 2005. In September of that year, GMT supported Multicom's acquisition of Norwegian alarm monitoring services company SecuriNet.

Company
Multicom develops secure fixed and mobile data communication services for monitored alarm transmission and mobile data applications. The company is headquartered in Stockholm and operates further offices in Göteborg, Borås and Eslöv.

Established in 1996, Safetel supplies secure alarm transmission services for intruder alerts as well as fire alarm transmission. The company is headquartered in Byrn, Oslo, with further offices across Norway, Sweden and Denmark, employing 60 people.

Under the new ownership structure, Multicom Security Manager, the companies will generate combined turnover of €40m.

People
Harald Rønning is CEO of Safetel and Stefan Albertsson is CEO of Multicom Security.

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• Topics
• Portfolio management
• Nordics
• GMT Communications Partners
• Viking Venture A/S