FLIR Systems, Wilsonville, Ore., a supplier of thermal imaging technology, acquired Lorex Technology, and its subsidiary company Digimerge Technologies for $1.32 per share, representing an aggregate purchase price of $60 million.
AFA Protective Systems Inc. completed the acquisition of Ready Alarm Inc. in December 2012. Ready Alarm, with 45 years in business, had contracts representing more than $45,000 in recurring monthly revenue (RMR), consisting of commercial fire alarm monitoring, maintenance and inspection services in the New York City marketplace.
Interface Security Systems, LLC, St. Louis, a provider of secure managed cloud services, announced it is discontinuing use of the Westec brand. Interface acquired Dallas-based Westec Intelligent Surveillance Inc. in March 2012 — and will immediately rebrand the Westec suite of interactive video surveillance services under the Digital Witness name.
Nortek Inc., Providence, R.I., a global diversified company with technology-driven products and solutions for residential and commercial applications, signed a definitive agreement to acquire 2GIG Technologies Inc., a privately held company based in Lehi, Utah, from APX Group. 2GIG is a designer and supplier of residential security and home automation systems.
Last year, the industry’s eyes took a second look at Michigan as new bills were introduced and backed by some new entrants to the industry — showing promise of spreading to other states. The bills were introduced on Sept. 19 and moved through the legislature at high speed. Despite the security alarm industry, law enforcement and Michigan’s Department of Licensing and Regulation speaking out against them, on Jan. 2, 2013, Senate Bills 1291 and 1292 were signed into state law as Public Acts PA 580 and PA 581.
Motorola Solutions Inc.,through its strategic investment arm Motorola Solutions Venture Capital, announced its investment in BriefCam, a developer and provider of video synopsis solutions for the rapid review, analysis and indexing of surveillance video.
The Protection Bureau, Exton, Pa. announced that Bob Gable, central station operator, was given the distinction of receiving MicroKey's Unsung Hero Award for going above and beyond.
Bank of America leads a five bank syndicate that has refinanced SAFE Security’s senior debt facility. The new facility provided by the Bank of Montreal, One West Bank, Madison Capital, and US Bank in addition to the Bank of America provides SAFE Security with $130 million of capital to pursue its growth strategy.
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