DTT appoints new CEO

LOS ANGELES—A week after securing an $80 million credit facility and completing the first acquisition in its 20 year history, DTT announced the appointment of Mike Coffey as chief executive officer. Sam Naficy, DTT's previous CEO and founder, will assume the position of chairman of the board of directors, where he will focus on strategy and M&A activity, Naficy told Security Systems News.

“The board and I decided that this is the right time to bring in a full-time CEO who can really focus on our growth and take us to the next level,” Naficy told SSN. “We agreed that Mike is the ideal candidate to work with me and lead the company as we continue to grow. With the new $80 million credit facility and the completion of our first acquisition, we are handing him the keys at an opportune time.”

Coffey, who will lead DTT's day-to-day operations, is a two-time CEO with 15-plus years of executive experience in technology enabled companies. Most recently, Coffey was the CEO of Wyless, an IoT and M2M business. As CEO, he transformed Wyless through new product innovation and a customer focus while later completing a sale to KORE Wireless, where he then served as COO. Previously, Coffey was the CEO of RISI, where he successfully grew this niche SaaS data business into a leader in its industry.

“I am extremely excited because of DTT's stellar reputation,” Coffey said in the announcement. “I knew there was an excellent opportunity for DTT to leverage my skills and experience with technology enabled businesses into new growth opportunities. I'm looking forward to spending the first few months learning more about the company, getting to know the DTT team and our tremendous customers, and ensuring we work together to continue providing truly innovative loss prevention solutions to the hospitality, retail, and C-Store industries.”

Naficy cited Coffey's leadership experience and the LPI acquisition as growth drivers for the company. “While I will miss working in a direct capacity at DTT, I couldn't be more confident that Mike will successfully lead our growth and deliver significant benefits for our customers and our team. In addition, the acquisition of LPI will provide truly unparalleled solutions for both existing DTT and LPI customers as we look to expand service offerings for both.”

DTT provides video surveillance solutions to the hospitality and retail industries, and has supported thousands of clients while protecting their assets and employees.