Archive: 2020
M&A outlook: The good, the bad and the ugly
December 30, 2020Paul Ragusa
Sorry about the classic movie reference – cue that epic western movie theme music now please – but this year will be remembered as one of the most challenging in American history, and the security industry has not been immune, with the impact of this past year being felt in all facets of the industry, certainly some more than others. The 2020 M&A market, in particular, has had some wild activity. Just in the last six months alone we have seen some big deals, most notably:
Allied...
EyeLock adds mask detection component
December 30, 2020Cory Harris, Editor
NEW YORK—As the war against COVID-19 rages on, businesses now have an additional means of detection available to them in order to create a safer working environment.
EyeLock, a provider of iris-based identity authentication solutions for the Internet of Things (IoT), recently announced that its nano iXT iris recognition devices now have the ability to detect the presence of a mask and conditionally deny access when one is not being worn. The mask detection feature is enabled when the device’s...
Vector Security teams with Pittsburgh Penguins to award local VA nurse
December 29, 2020SSN Staff
PITTSBURGH– Vector Security, Inc., a provider of intelligent mobile security and automation solutions to homes and businesses, in partnership with the National Hockey League’s (NHL) Pittsburgh Penguins, presented the 2020 Vector Security Defender of the Year award to Melissa Nadeau of Monroeville, Pa.
The Vector Security Defender of the Year award honors a frontline worker for their service during the COVID-19 pandemic. Nadeau was selected jointly by Vector Security and the Pittsburgh...
Brinks Home Security acquires Select Security
December 29, 2020Paul Ragusa
DALLAS—With the acquisition of Select Security, Brinks Home Security adds approximately 30,000 residential and small business and 8,000 large commercial alarm monitoring contracts as well as $2 million in recurring monthly revenue (RMR).
The company will take ownership of the alarm monitoring contracts through an earn-out structure that includes a $10 million upfront payment and a 50-month earn-out period. Per the terms of the transaction, the seller will transfer title to all accounts to...
Floyd Total Security joins Per Mar Security Services
December 28, 2020SSN Staff
DAVENPORT, Iowa—Per Mar Security Services, one of the largest family owned full service security company in the Midwest, recently announced that Floyd Total Security has joined Per Mar Security Services.
Serving the Twin Cities and surrounding areas for more than 75 years, Floyd Total Security provides security, video and lock solutions to commercial and residential customers.
“I’m excited that Floyd Total Security will be joining Per Mar Security Solutions as our Twin Cities...
Doyle Security acquires Hart Alarm and Austin Security
December 28, 2020Paul Ragusa
ROCHESTER, N.Y.—With the acquisition of Hart Alarm in Albany, N.Y., and Austin Locksmithing & Security, Inc. in Olean, N.Y., super-regional security provider Doyle Security Systems continues to grow both organically and through acquisition, as the company closed on four companies in 2020.
“The four acquisitions we have closed this year have helped us increase our density in three existing markets and extended our footprint to a new market,” Doyle’s Director of Business...
Nearly one-third of SMBs at risk of closing
December 28, 2020SSN Staff
DALLAS—Recent research from Parks Associates’ New SMB Landscape: Devices, Communication, Security, Support reveals nearly 29 percent of SMBs report their company is at risk of going out of business due to COVID-19.
The public health crisis and months of shelter-in-place orders have had a dramatic impact on SMBs in particular. New SMB Landscape: Devices, Communication, Security, Support, a primary study of US SMBs, provides insights on technology adoption and needs among SMB owners...
PSA names Matt Barnette as CEO upon retirement of Bill Bozeman
December 21, 2020SSN Staff
WESTMINSTER, Colo.—PSA, a global systems integrator consortium, announced the appointment of Matt Barnette as its next Chief Executive Officer, following the retirement of PSA’s current CEO, Bill Bozeman, who plans to retire from the organization in 2021.
Barnette most recently served as Vice President of Physical Access Control Solutions North America Business Unit for HID Global and previously held the role of President at Mercury Security.
“We are thrilled Matt has accepted...
Fighting another “pandemic”
December 16, 2020Cory Harris, Editor
As we look ahead to 2021, security companies continue to take care of customers dealing with the Covid-19 pandemic, while also battling a cyber pandemic that saw a record surge in data leaks in 2020.
According to a report recently released by Atlas VPN, analysis based on Risk Based Security data reveals that exposed data hit a record 36.1 billion in the first three quarters of 2020. This record number of data leaks is more than two times higher than all of 2019 and makes up more than...
News Poll: Readers weigh-in on COVID’s impact, future of in-person conferences
December 16, 2020Paul Ragusa
YARMOUTH, Maine—In April and May, Security Systems News asked readers to weigh in on the impact of COVID-19, as well as look at the future of in-person conferences, two topics that continue to set the backdrop for what has been a crazy 2020. Looking to 2021, this month’s poll aims to gauge where we are now, especially in light of effective vaccines on the way.
Looking ahead to 2021 and if business will get back to pre-COVID levels, most readers (62 percent) said only “somewhat,”...