Intersecurity Holdings buys into SOB
Wednesday, March 1, 2006, 14:01
Intersecurity Holdings Corporation has purchased a 25% interest in Hungarian management company SOB Kft in a share swap deal, the buyer announced. “I am happy to inform our shareholders that we did what we set out to do, and officially have made our company's venture into the Hungarian market,” Jacob Simone, President of Intersecurity Holdings said. “The former Eastern European countries such as Hungary offer strategic business opportunities in the security sector. The upgrading of existing security infrastructure is being mandated by the EU initiative. This will lead to more money being spent on both R&D and on security projects. We are reviewing other opportunities, but it is still too early to discuss. In the meantime, we will be making use of SOB Kft’s network and clientele to further its business initiative,” Simone said.
SOB supplies facility management and security services to both international and local corporations with a presence in Hungary.