Swedish security solutions provider Securitas has bought Romanian sector firm Cobra Security for an enterprise value of EUR 3.2 million from Romanian company UTI, owned by Tiberiu Urdareanu. Cobra, with a staff of more than 1,000 people and annual sales of nearly EUR 4.2 million, provides guarding and monitoring services, reads Securitas' statement. Its acquisition will help Securitas enhance its position in the Romanian security services market.

Securitas Services Romania was set up in 2007, after Swedish Securitas AB bought a 55 percent share package in local company CPI Security Group. Securitas Services România, headquartered in Bucharest, has 11 local subsidiaries and around 4,000 employees.

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