Archive: June 2015
Vivint owners sell AlliedBarton for $1.67 billion
June 30, 2015SSN Staff
NEW YORK—Blackstone, a private equity firm based here, today announced the $1.67 billion sale of security guard company AlliedBarton to Wendel, a Paris-based private equity group.Blackstone, which owns Vivint, first discussed selling AlliedBarton in March. The estimated value of the company was then $1.5 billion. The deal is expected to be closed in the third quarter of this year.“We are very excited to join Wendel,” Bill Whitmore, chairman and CEO of AlliedBarton, said in a prepared...
LOUD takes on 1,200 Alarm Associates accounts
June 29, 2015Amy Canfield
KENNESAW, Ga.—LOUD Security has acquired Alarm Associates Inc. of Atlanta, adding 1,200 accounts and bringing its RMR to more than $210,000, according to owner and president John Loud.
Alarm Associate's former owners, Tom and Dawn Johnson, “were outstanding in taking care of their customers” over nearly three decades, Loud told Security Systems News. “That's right in our footprint.”
The new accounts resulting from the acquisition, located in LOUD's...
DMP expands headquarters
June 29, 2015SSN Staff
SPRINGFIELD, Mo.—Digital Monitoring Products has started construction on an expansion of its headquarters, here.
The $7 million project, expected to be completed next summer, will add 36,000 square feet of warehouse and manufacturing space, 28,000 square feet for engineering, training development and marketing and 8,000 square feet for technical support and customer service. It will allow for the creation of about 65 new jobs over the next two years, DMP said in prepared statement.
“In...
Alarm.com sets price at $14 per share
June 26, 2015SSN Staff
VIENNA, Va.—Alarm.com Holdings Inc. has priced its initial public offering of 7 million shares of common stock at $14 per share. The shares are expected to begin trading on NASDAQ today, June 26, under “ALRM,” according to the company.Underwriters have a 30-day option to purchase up to an additional 525,000 shares and up to 525,000 shares of common stock from selling stockholders at the initial public offering price to cover over-allotments, if any. Alarm.com will not receive any...
UL introduces standard for managed video
June 26, 2015Spencer Ives
BALTIMORE—UL announced a new standard for managed video services, UL-827 b."[We're] trying to establish a baseline of requirements for the industry, while the [managed video] industry is still fairly young, emerging and growing,” Steve Schmit, UL engineer manager, told Security Systems News."We think ... that video is going to be such an important part of security in the future. The services that are being offered today are really just a precursor of much more advanced services to come,"...
Security Systems News launches Cloud+
June 22, 2015Amy Canfield
FOSTER CITY, Calif.—Security Systems News today announced it is launching the security industry's first conference dedicated to all things cloud. Cloud+ will take place Dec. 7-8 in Silicon Valley at the Crowne Plaza Hotel in Foster City, Calif.“Cloud is the new frontier in security,” said Tim Purpura, VP and group publisher of Security Systems News. “We're at a crossroads today with cloud technology. Just as early adopters jumped on IP 12 years ago, early adopters today are...
Alliance Security credits employee smarts for big growth
June 22, 2015Amy Canfield
WARWICK, R.I.—Alliance Security, a burgeoning resi security and home automation provider, based here, anticipates increasing its sales from $56 million to $110 million this year. It also expects to double its workforce to 600 by the end of 2015 and is in the process of moving to a new 60,000-square-foot site in Cranston, R.I.The credit for the big growth goes to employees and the company's emphasis on internal education, CEO Jay Gotra told Security Systems News.With 300 employees a year ago,...
Consumers 'ho-hum' about home automation?
June 22, 2015Amy Canfield
LOS GATOS, Calif.—Advances in connected home technology were all the buzz at ISC West 2015, and recent studies point to a boom, too, but an alternative report from Argus Insights suggests that the big buzz is overrated. The market is stalling and may even be shrinking, it says.The June report, “Connected Home or Ho-Hum?” says that consumer demand for connected home products dropped 15 percent in May of this year from May 2014 and is continuing to decline. The report is based on...
And here's ESX 2015!
June 22, 2015Amy Canfield
BALTIMORE—Rapid change in the industry, home automation, the IofT and DIY were prevalent themes at the sessions I attended today.
First up was the OpenXchange, a forum featuring Mike Hackett of Qolsys, Rod Coles of Bold Technologies, Syed Zaeem Hosain of Aeris and Alexei Erchak of BeON, moderated by George De Marco, ESX chairman.
De Marco asked audience members if they were ready to be disrupted. Emerging technology and cloud-based security is changing the industry forever, he said. “Is...
MAC buys Integrated Systems as platform for growth
June 22, 2015Martha Entwistle
DENVER—Mountain Acquisition Company acquired systems integrator Integrated Systems, based here, and plans to use the operation as a platform for growth.MAC already owns Apex Security, which does a mix of ultra high-end residential work and commercial work in the resort area of Aspen. In addition, MAC has two other acquisitions in the works, in Colorado and California, that represent an additional $165,000 in RMR.The plan is to move administrative and back-office operations to the office in...