Delhi-based security services firm Security and Intelligence Services (SIS) has formed a joint venture with US-based pest control services provider Terminix to serve residential and commercial customers, according to a company statement.
Under this deal, Terminix will provide its technical expertise and industry knowledge while SIS will leverage its deep understanding of the Indian marketplace, along with its extensive infrastructure and customer base.
Terminix, a leading pest control services provider and a division of The ServiceMaster Company (headquartered in Memphis, Tennessee), caters to more than three million customers across 14 countries.
“Terminix’s joint venture with SIS marks a strategic opportunity to expand our business to one of the most significant, rapidly growing marketplaces in the world,” said Tom Brackett, Terminix president and chief operating officer.
Incorporated in 1974, New Delhi-based SIS Group is one of India’s top security and business support services group, with more than 100 offices, 3000 corporate customers and an associate base of 52,000 people.
Three years ago, US-based hedge fund DE Shaw had bought 14 per cent stake in SIS for around Rs 300 crore ($75 million), valuing the company at about Rs 2,150 crore ($525 million). In 2008, SIS also made one of the biggest overseas acquisitions in security services field when it snapped the Australian guarding and patrol business units of US conglomerate United Technologies Corp in a multi-million dollar transaction.