Convergint acquisition aids multi-national strategy
SCHAUMBURG, Ill.—With the goal of offering better service to its growing multi-national client base, Convergint Technologies has acquired security integration firm Beacon Security and Communications, which is based in Crowborough, England.
Convergint’s business with multi-national corporations accounts for 25 percent of overall revenues in 2014, and it is projected to account for 30 percent in 2015, Dan Moceri, executive chairman of Convergint, told Security Systems News.
“The multi-national business is growing at a faster rate than the rest of the business,” Moceri said. “And, it represents a significant amount of the opportunity going forward.”
Convergint did $411 million in business in 2014, up from $328 million in 2013.
Beacon Security has 53 employees and has been in business since 1994. Beacon “looks like we do, only [it’s] in Europe. It is a fairly sophisticated systems integrator that does work for multi-nationals around the globe. Barclay’s, State Street Bank, American Express and KPMG are some of their clients,” Moceri said.
With ICD Security Systems, a systems integrator based in China that Convergint acquired in Nov. 2013, and now Beacon Security, Convergint can service multi-national clients from all three locations.
Moceri said that service and its “Quad 4” strategy are driving revenues in it multi-national business.
“Convergint was built on a service model,” Moceri said.
“When we started this company 13 years ago we saw the opportunity for large strategic customers … who want consistent service across their portfolio. Then it was only the U.S. and Canada [now we do it across the globe] … and that’s driving growth,” he said.
Its Quad 4 strategy—the integration of traditional access control, video surveillance and enterprise IT services—“where we take data from physical security systems and turn it into useful information for the business enterprise. [This information brings customers better] efficiency, regulatory compliance, cost savings.”
Convergint uses its customers’ physical security data “for a lot more than forensic information,” Moceri said.
Moceri declined to discuss terms of the Beacon deal.
Convergint today has more than 50 offices “signing local business” in addition to help service multi-national accounts.
Moceri believes Convergint will grow by 20 percent in 2015.