RTTNews | Dec 8, 2021 12:21PM EST

12:20 Wednesday, December 8, 2021 (RTTNews.com) - Connecticut-based tool and storage builders, Stanley Black & Decker, Inc. (SWK) is trading 5% higher on the news of Securitas buying its security business. According to the company, the Swedish security company will pay $3.2 billion for the services of Stanley Security. The deal is the biggest acquisition in the history of Securitas and is expected to close by the first quarter of 2022. Chief Executive of Securitas, Magnus Ahlqvist said, "Together with Stanley Security, our largest acquisition in history, the profile of Securitas changes from a leading guarding company with electronic security and solutions capabilities, to a leading intelligent security solutions partner." The stock is currently trading at $195.10, up $9.05 or 4.86% since the previous close at $186.05. The stock opened at $195.00 in the morning. In the 52-week period, the shares have ranged between $167.66 and $225.00.

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