Archive: March 2004
ISR Solutions’ purchase is first in five years
March 25, 2004Chelsie Woods
March 25, 2004
CHANTILLY, Va. - Systems integrator ISR Solutions saw both its geographic reach and wallet grow this week, the results of a dually announced acquisition and $11 million equity investment.
For ISR Solutions, the acquisition of The Comm Group marks its first purchase since 1999. The company has spent the past five years focusing on internal growth, opening approximately seven new locations along the East Coast.
“This is not a roll-up or anything,†said...
Stanley Works announces sales increase over first quarter
March 25, 2004SSN Staff
March 25, 2004
NEW BRITAIN, Conn. - The Stanley Works has announced that sales from continuing operations increased more than 20 percent over the months of January and February of 2004 compared to the same time period in 2003.
The company also reported that aside from the impacts of recent acquisitions such as security systems integrator Frisco Bay Industries, organic sales growth exceeded 15 percent in the two-month period. Stanley Works now expects first quarter organic sales to increase by a...
Linear continues on acquisition path
March 25, 2004SSN Staff
March 25, 2004
CARLSBAD, Calif. - Linear LLC has made another acquisition, but this time it has purchased a company whose products complement a number of Linear’s existing product brands.
The company, OmniMount Systems in Phoenix, makes audio and video equipment mounting products for the residential and commercial market. Its mounts are expected to work with products from Elan, SpeakerCraft, ChannelPlus, OpenHouse and Xantech – brands that are all part of Linear.
Grant Rummell, president...
SEC investigates insider trading at InVision
March 25, 2004Rhianna Daniels
March 25, 2004
NEWARK, N.J. - Two days after General Electric announced its plans to acquire InVision Technologies, the U.S. Securities and Exchange Commission began investigating alleged insider trading in options on InVision’s stock.
The U.S. District Court for the Southern District of New York granted the commission’s request for a temporary restraining order freezing $2 million in assets of unidentified purchasers of call options on shares of InVision. The...
Firms form Physical Security Alliance
March 18, 2004SSN Staff
March 18, 2004
CHANTILLY, Va. - Eighteen security-related technology firms have joined together to form the Physical Security Alliance in an effort to develop a set physical security products and services.
Among the group’s planned offerings are security systems consulting services, physical security products and solutions, and managed security systems integration services.
The decision to form the alliance was spearheaded by GTSI Corp. and was based on increased competition from security...
General Electric to acquire InVision
March 18, 2004SSN Staff
March 18, 2004
WILTON, Conn. - A division of General Electric has agreed to acquire InVision Technologies for approximately $900 million.
The acquisition will allow GE Infrastructure to merge technologies with InVision, a high-technology provider of infrastructure security systems, as well as expand the company’s business reach into arenas such as explosive detection and security technologies.
GE’s interest in InVision stemmed from the company’s...
Microtec responds to Securex offer
March 18, 2004SSN Staff
March 18, 2004
ST-AUGUSTIN, Quebec - Microtec Enterprises, a provider of security and home automation services here, has learned that Securex Investments commenced an unsolicited “mini-tender†offer to purchase up to 971,050 of Microtec’s subordinate voting shares, which accounts for almost 20 percent of all outstanding voting shares.
According to a Securex press release, the company, which provides financial services to the security monitoring industry,...
IASG gains momentum in Q4
March 18, 2004Derek Rice
March 18, 2004
ALBANY, N.Y. - Driven by “the timing of portfolio acquisitions,†Integrated Alarm Services Group’s fourth-quarter 2003 results were up 30 percent over third quarter numbers, according to Chairman and Chief Executive Officer Tim McGinn.
Revenues for the fourth quarter, which ended Dec. 31, 2003, were $12.6 million, compared with $9.7 million for the third quarter. This helped push year-end revenues to $40.9 million, compared to $23.5...
ADT must answer new lawsuit
March 11, 2004SSN Staff
March 11, 2004
DENVER - Another lawsuit has been filed against ADT Security Systems charging that the company breached its contract with authorized dealers. The nationwide class-action lawsuit was filed on behalf of Advantek Pro, a former ADT authorized dealer.
The complaint, submitted in Colorado district court on Feb. 10, alleges dealers were owed significant compensation from ADT when the security giant instituted changes to its dealer program. According to the complaint, alterations were...
CANASA changes scope, name
March 11, 2004SSN Staff
March 11, 2004
MARKHAM, Ontario - The Canadian Alarm and Security Association has changed its name to The Canadian Security Association, a move the group feels will better position it for the future and evolution of the security industry.
In January, the National Board of Directors approved the motion. Although the group will continue to be known as CANASA, the expanded acronym will become The Canadian Security Association.
Established in 1977, the association’s name change reflects the...