Surbana Jurong acquires security firm Aetos
A new acquisition by Temasek unit Surbana Jurong will boost its presence in the fast-growing security and surveillance sector.
Surbana, an urban planning and infrastructure development consultancy, has acquired 100 per cent of Aetos Holdings, also a subsidiary of state investment firm Temasek Holdings. The deal was completed yesterday for an undisclosed amount.
Surbana Jurong, which has over 95 offices across 40 countries and an annual turnover of about $1.3 billion, has been ramping up rapidly through acquisitions.
Two months ago, it paid $400 million to buy Australia-based engineering consultancy firm SMEC Holdings. The deal - Surbana's largest - lifted its headcount from 4,000 to 10,000 and made it the biggest development consultancy group in the region.
The Aetos acquisition raises Surbana's global staff numbers to nearly 13,000 - half of whom are in Singapore.
Aetos supplies a number of security services, including the use of drones. These can collect and send data from remote areas as well as enhancing Surbana's surveillance services and land survey capabilities.
The firm is also one of three licensed auxiliary police operators here and runs a force of 2,900 officers. It has provided security for the Marina Bay Singapore Countdown, the Formula 1 Singapore Grand Prix and the 2015 SEA Games.
Surbana chief executive Wong Heang Fine said yesterday: "Safety and security services have become an integral aspect of urban planning and infrastructure development amid the changing nature of security threats globally."
More importantly, Surbana will now be able to integrate security solutions in its master plans and building designs for districts and cities, particularly in the real estate sector.
These solutions include surveillance and monitoring, systems for access control and screening for explosives and radiation.
Mr Wong said that the acquisition will also allow Surbana to conduct audit and risk assessments of building designs and propose security solutions that can be plugged into its "Smart City in a Box".
This open platform allows customisable applications that enable officials to monitor cities, analyse data and deploy solutions to specific problems.
Aetos executive director and group chief executive James Tan said that the firm is keen to grow its security consultancy business with Surbana and to support its "smart city" and building consultancy businesses.
Mr Tan added that with Aetos' large force of armed and unarmed guards, the firm can provide infrastructure owners with total protection for their transport and industrial assets. These span a large range of facilities, from airports, tunnels and seaports to petrochemical plants and biomedical facilities.