Archive: August 2006
Devcon can't consummate deal for construction operation
August 31, 2006SSN Staff
BOCA RATON, Fla.--A deal that would have completed Devcon International's transformation into a pure-play security company fell through, the company announced on Aug. 29.
In May, Devcon announced it had a letter of intent to sell its construction operation for $12.2 to a private investment group led by The Symonette Group. Devcon bought its first alarm company in 2004. It has been building its security operation and selling its non-security operations ever since.
Stephen Ruzika, chief executive officer...
GVI in search of funding
August 31, 2006L. Samuel Pfeifle
CARROLLTON, Texas--While GVI Security Solutions published very real concerns for its continuance as a going operation in its August 15 10-Q report to the SEC, recently installed chief executive officer Steven Walin looked to tell the story of gains made in sales of professional products, mostly Samsung surveillance products, of which GVI is the master distributor for Latin and North America.
"That business was always and continues to be very strong," said Walin, who took over as CEO at the beginning...
Tri-Ed opens branch to serve Philly
August 31, 2006SSN Staff
PENNSAUKEN, N.J.--Tri-Ed Distribution has added yet another branch to its current list of more than 30 locations in the United States and Canada. The new Pennsauken, N.J., branch, which opened this August, offers same-day shipping to the entire New Jersey, Pennsylvania and Delaware region. Tri-Ed opened the new branch, according to company officials, to better serve new security professionals in the Philadelphia area.
"Everyone at Tri-Ed strives to give our customers what they need, when they need...
SYSTEMSgroup opens two redundant contact centers
August 31, 2006Erin Zwirn
DALLAS--In an effort to offer around-the-clock monitoring for its commercial clients, SYSTEMSgroup for the first time will open two redundant security operations centers in Houston and Fort Worth, Texas, this fall.
A subsidiary of SAFEguard Security Holdings (see "SAFEguard continues growth," in the July issue of Security Systems News), SYSTEMSgroup has designed and developed control centers and operational procedures for organizations with unique security needs for more than 15 years.
"We have learned...
HSCC buys access-control/RFID outfit SecurityInc
August 31, 2006L. Samuel Pfeifle
ARLINGTON, Va.--Consolidation holding company Homeland Security Capital Corp. announced August 23 the acquisition of SecurityInc, a manufacturer of access control solutions using RFID technology based in Milwaukee. In addition, the company acquired SecurityInc affiliates Cyberlynk, an IT support company for enterprise applications, and AAID Security Solutions, a Georgia-based manufacturer and distributor of RFID solutions.
The three companies will be merged into the newly formed subsidiary Security...
CSAA travels to Rome for annual meeting
August 31, 2006SSN Staff
VIENNA,Va.--When in Rome, November 3 through 8, Central Station Alarm Association members at the 2006 annual meeting will do as the Romans do, and the Vatican will serve as the event's backdrop.
Throughout the event, attendees will participate in seminars pertinent to the landscape of the alarm monitoring market, such as a panel discussion where representatives of law enforcement, fire prevention, and emergency communications organizations will share their vision of future issues or a session examining...
LaPenta rings in L1's new identity
August 24, 2006Martha Entwistle
NEW YORK, N.Y.--Robert LaPenta will ring the New York Stock Exchange bell on Aug. 30, marking the first day of trading on this exchange for his biometrics technology company, L1 Identity Solutions. The company's ticker symbol will be ID.
LaPenta is chief executive officer of the new company, which is the result of a merger, expected to be completed Aug. 29, between Viisage Technology and Identix Inc. LaPenta has been working over the past year to bring together different biometrics companies under...
Lockheed's Transportation and Security unit to open new facility
August 24, 2006L. Samuel Pfeifle
ROCKVILLE, Md.--Lockheed Martin announced this week the signing of a lease to open a new work site in Frederick, Md., to be opened later this year. The office will initially house about 100 employees from the Transportation and Security Solutions Business Unit workforce, focused largely on serving the Federal Aviation Administration, and as many as 500 employees going forward.
Anna DiPaola, the unit's director of communications and public affairs, said the move was driven by the dual goal of keeping...
Partnership brings Axis to Latin American homeowners
August 24, 2006SSN Staff
CHELMSFORD, Mass.--Network video company Axis Communications has sold approximately $440,000 worth of network cameras to homeowners and small businesses in Latin America as the result of a deal with TELMEX through Prodigy, an ISP that serves that geographic region.
Through the partnership, which was announced Aug. 21, TELMEX offers its residential and small business customers the TELMEX Prodigy Cam service, which includes the remote recording and storage of video, event and motion-based notifications...
IBM to purchase Internet Security Systems for $1.3b
August 24, 2006SSN Staff
ARMONK, N.Y.--IBM announced on Wednesday a definitive agreement to purchase the Atlanta-based Internet Security Systems, Inc., for approximately $1.3 billion, or $28 per share. The deal is subject to ISS shareholder and regulatory approvals, but is likely to represent the fifth largest acquisition in IBM history.
ISS provides security solutions to thousands of companies and governments worldwide, protecting against Internet-based threats across networks, desktops and servers. ISS software, appliances...