Archive: December 2004
DoorTek joins Integrated Security Systems
December 30, 2004SSN Staff
December 30, 2004
IRVING, Texas - Integrated Security Systems Inc. has acquired San Antonio-based DoorTek Corp., an access control and security provider.
DoorTek’s two owners, Robert Gardner and Ray Deasy, will join ISSI as part of the deal and will continue to manage DoorTek.
C.A. Rundell, chairman and chief executive officer of ISSI, said in a press release that although the acquisition is small, DoorTek is a “solidly profitable†operation. He...
Home Technologies envisions benefits in new location
December 30, 2004Rhianna Daniels
December 30, 2004
BELLEVUE, Wash. - A new location for Home Technologies means more than just a new space - it brings employees together and aims to educate potential clients.
The company is moving its Home Technologies Bellevue - formerly the home of Digitech Home Systems, a company acquired by Home Technologies earlier this year - to a new location that will be able to incorporate the location’s 80 employees in connected offices, instead of the disconnected suites the division...
GVI secures $33.9-million private placement of common stock
December 30, 2004SSN Staff
December 30, 2004
CARROLLTON, Texas - GVI Security Solutions, a provider of integrated security solutions, announced the completion of a private placement of approximately 22 million shares of common stock for $33.9 million at $1.50 per share - equaling out to proceeds of $31.5 million.
Roughly $4.7 million of the proceeds from the placement will be used to repay Laurus Master Fund under a revolving promissory note and $1.15 million was used to repay notes sold to affiliates of the company in a...
Firm illegally certifies fire extinguishers, DOT says
December 30, 2004Jeffrey Sanders
December 30, 2004
WEST BUXTON, Me. - A southern Maine fire equipment company is under investigation by the U.S. Department of Transportation after it was discovered that the firm had illegally certified high-pressure carbon dioxide fire extinguishers.
Statewide Fire Equipment, located here, had stamped Retester Identification Numbers issued to at least four companies located locally and elsewhere in the country. The investigation was launched last summer, when a licensed, unspecified by the DOT...
Agency issues product recall for smoke detector
December 30, 2004SSN Staff
December 30, 2004
BETHESDA, Md. - The U.S. Consumer Product Safety Commission announced a product safety recall this month of smoke detector systems manufactured by Austin, Texas-based GE Security due to compatibility issues with certain security panels.
GE Security, working in tandem with the CPSC, said the company’s hard-wired S10A ESL smoke detectors can fail to activate during a fire or emergency when installed in combination with particular control panels.
ITI Security Panels were cited...
After court ruling, Georgia reopens state driver license bid process
December 30, 2004SSN Staff
December 30, 2004
ATLANTA - The Superior Court of Fulton County, based here, has disallowed a contract awarded to Viisage to update the state’ driver license, finding the evaluation process was improperly handled by the state’s Department of Motor Vehicle Services and the Georgia Technology Authority.
The court decision overturns a $20-million contract initially awarded to Viisage to digitize the state’s drivers license systems. The state had requested bids to update its digitized...
Panasonic sees much activity for iris readers
December 23, 2004SSN Staff
December 23, 2004
SECAUCUS, N.J. - Panasonic Security Systems experienced much interest in its BM-ET300 iris recognition readers this year, in big and small ways.
The BM-ET300 is designed to collect biometric information, such as iris and fingerprint data, for access control purposes. The device features multiple cameras for the collection of this type of information and can be integrated with third-party access control applications.
On a large scale, the Transportation Security Administration used...
Kidde accepts takeover bid from UTC
December 23, 2004SSN Staff
December 23, 2004
HARTFORD, Conn. - After receiving an offer a bit sweeter than the previous one, fire extinguisher manufacturer Kidde has accepted a GBP 1.44 billion ($2.8 million) takeover bid from United Technologies Corp.
The board of the U.K.-based company said the offer represented a fair price for the company, which had rebuffed UTC’s previous bid.
The deal, reached on Dec. 16 after back and forth discussions between the two firms over a two-month period, paves the way for UTC to add...
Microtec’s recapitalization plan forges onward
December 23, 2004Rhianna Daniels
December 23, 2004
ST-AUGUSTIN, Quebec - Microtec Enterprises looks to end its year on a high note of sorts, announcing an agreement with Securex Investments to develop a new alarm entity that combines subscribers from both companies.
The plan calls for 100,000 Microtec alarm subscribers to be grouped with 18,000 alarm subscribers with Securex Master Limited Partnership under a new entity that according to Len Suderman, president of Securex. Although no decision has been made on the name of the...
Honeywell agrees to buy Novar PLC to expand its building security and fire systems business
December 23, 2004SSN Staff
December 23, 2004
NEW YORK - Honeywell has offered roughly GBP 900 million ($1.7 billion) to buy British holding company Novar PLC - a deal aimed at grabbing hold of Novar’s Intelligent Business Systems unit.
The unit, which provides security, fire protection and building controls, contributed just under one third of Novar’s sales in 2003. Novar also holds businesses in the aluminum and security printing services, which Honeywell does not plan to hold onto after the sale is finalized.
The...