Pro 1 makes second account acquisition this year

This time the accounts are residential but they fit in with company’s plan to grow market share
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Monday, September 26, 2011

ROMEOVILLE, Ill.—Protection 1 recently announced it had acquired nearly 3,000 residential customers from Provo, Utah-based ICON Home Security.

Earlier this year, Protection 1—one of the nation’s major providers of electronic security that serves more than one million customers nationwide—made what it termed an exponential expansion of its national accounts business when it acquired more than 2,000 commercial security monitoring accounts from Las Vegas-based Sting Alarm.

The residential accounts that Protection 1 announced in August that it had acquired will add to the company’s already well-established resi business, but still the acquisition is significant, according to Jamie Haenggi, Protection 1’s chief marketing & customer experience officer.

“Any acquisition that we make is important, first off because we want to make sure that regardless whether it’s one customer or 100,000 customers, we understand that they didn’t choose us, and so creating that experience for them coming on board is important,” Haenggi told Security Systems News. “We’re not looking to make huge acquisitions per se unless the price is right so when we do make these small acquisitions they do matter. They continue to build your RMR and if they’re acquired at the right prices, it’s a good way to add profitability to the company.”

And she said the company’s strategy is to grow all three areas of its business: residential, commercial and national accounts.

“So both of these acquisitions fit into that strategy to gain market share and grow all channels of our business,” Haenggi said.

Protection 1 is reaching out to the new customers it just acquired from ICON to ensure a smooth transition, she said.

“We mailed everyone a very large package with their yards signs and decals,” a welcome brochure, and a letter from Protection 1 president and CEO Tim Whall and herself, telling new customers what to expect, Haenggi said.

Haenggi said Protection 1 also has given some of the customers free upgrades.

In addition, she said, “We also have dedicated a team of people in our call center who are onboarding specialists so they’re actually reaching out to these customers one on one, welcoming them to Protection 1, and answering any questions for them and making sure that they’re happy with their service.”