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Select Security to acquire AlarmForce’s US subscribers

Select to nearly double, gaining 28,000 accounts in $11.6 million deal
 - 
06/15/2017

LANCASTER, Pa.—Select Security, a super-regional alarm company based here, on June 14 entered into an agreement to buy the U.S. subscriber base of AlarmForce, a Toronto-based company, which will maintain its Canadian business.

News Poll: DIY represents an opportunity for traditional companies

Seventy-one percent said their company either offers DIY or is considering it
 - 
08/17/2016

YARMOUTH, Maine—Traditional security companies like LOUD Security and Select Security have been looking at expanding their offerings with DIY. Most respondents to Security Systems News’ latest poll said DIY gives companies access to more streams of revenue and new markets.

Settlement reached in Joel Matlin’s $11.3 million lawsuit against AlarmForce

Former AlarmForce CEO and founder Matlin ‘happy it has been resolved’
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03/11/2016

TORONTO—A settlement was reached on March 10 in Joel Matlin’s $11.3 million lawsuit against AlarmForce.

After ADT's news, Ascent stock rises

 - 
Wednesday, February 17, 2016

Ascent Capital Group’s stock price rose yesterday, on news of the ADT/Apollo deal.

I asked Imperial Capital’s Jeff Kessler about the stock’s jump and he characterized it as a “knee jerk reaction to the fact that the only other company in the United States that’s public, being traded, is being taken over.”

Yesterday (Feb. 16) Ascent’s stock price rose as high as 49 percent over its previous close of (Feb. 12) of $8.27 per share.  Yesterday’s high was $12.29. The stock closed at $11.00 and had been hovering around that price today.

Ascent’s stock price has been declining over the last 12 months. This time last year the stock price was $47.50.

Kessler pointed out that AlarmForce, another publicly traded alarm company, also saw a small increase after the news of ADT’s acquisition agreement. “If ADT is taken private [Alarm Force and Ascent] will be the only two publicly traded alarm companies,” he said.

Ascent Capital Group is a more well known peer to ADT, Kessler said, which is why Ascent’s price was affected more than that of AlarmForce.

“It will certainly have more people eyeing Ascent, to see whether or not there is some value in the Ascent monitoring capability for another buyer,” Kessler said. “Certainly I would think that private equity firms are looking at Ascent, because the stock has fallen down so far … but there’s no guarantees.” 

AlarmForce ordered to pay Matlin court fees

Company drops suit over employee injunction
 - 
05/27/2015

TORONTO—AlarmForce Industries must pay $45,000 in court costs to company founder Joel Matlin and others after AlarmForce dropped a lawsuit that sought to bar two employees from working for Matlin’s new company, ThinkProtection.

AlarmForce names third CEO in less than two years

Toronto-based company has yet to resolve suit brought by Joel Matlin
 - 
05/06/2015

TORONTO—Graham Badun is the new president and CEO of AlarmForce Industries, its third leader in less than two years.

Joel Matlin launches new alarm company: Think Protection

Ousted founder of AlarmForce is back
 - 
02/25/2015

TORONTO—Joel Matlin, founder of AlarmForce, is launching a new alarm company called Think Protection.

Matlin back in home security, as a consultant

The fired AlarmForce CEO’s noncompete has expired and he plans to help AlarmForce competitors with marketing
 - 
07/23/2014

TORONTO—The yearlong noncompete of ousted AlarmForce CEO Joel Matlin is at an end and now he’s back in the home security business—as a marketing consultant.

Fired AlarmForce exec launches new business

Joel Matlin’s new marketing firm will cater to security companies, among others
 - 
12/04/2013

TORONTO—Joel Matlin, the recently ousted CEO and founder of AlarmForce Industries, launched his own marketing business this week to serve security companies and other clients.

Management shake-up at AlarmForce

 - 
Wednesday, July 24, 2013

Last year, AlarmForce Industries, a Toronto-based super-regional, announced that its board of directors was looking at selling the company. Now the board says the company won’t be sold but grown instead, and has “terminated” AlarmForce’s longtime President and CEO Joel Matlin.

Alarm Force announced in a news release Tuesday that it had “terminated the employment" of Matlin but said that he will “continue to serve as a director of the company.” Matlin holds a stake in the company of about 8 percent, according to news reports.

Company CFO Anthony Pizzonia is now interim president and CEO, the release said. A search is underway to find a permanent successor to Matlin.

Earlier this month, the company announced that its board had completed its strategic review begun last August and will now focus on growing the company.

Here’s more of what it had to say in a July 3 news release:
 

During the past eleven months, a special committee of the Board of Directors of the Company (the "Board") comprised of the independent directors of AlarmForce (the "Special Committee") explored and considered available opportunities for the Company, including a possible sale of the Company. The Special Committee has concluded that the strategic review process did not result in a transaction adequately reflecting the Company's value. As such, the Board has decided to conclude the formal process and dissolve the Special Committee. The Company will now move forward with a focus on the Company's growth.

AlarmForce provides security alarm monitoring, personal emergency response monitoring, video surveillance and related services to residential and commercial subscribers throughout Canada and in some locations in the United States. The company says it is a leading provider of two-way voice alarm systems in Canada.

 

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