ISC West news: RISCO Group acquires controlling interest in Electronics Line
LAS VEGAS—Israeli-based security company RISCO Group, a provider of integrated security solutions, announced here at ISC West that it has acquired a controlling interest in Electronics Line, a provider of security solutions for the residential and small commercial market.
According to Len Friedman, president and CEO of RISCO, it is still very early in the integration process and he’s still evaluating the Electronics Line product for fit with the North American audience. However, he said that the combination of the companies now creates a company with “well over $100 million in revenue. Now we’ll be looked at in a different light. Now we’re a player.”
Integral in the acquisition was Bob Marbut, a shareholder in both companies, who recently left integrator Argyle Security and will now serve as a consultant with RISCO in North America for the next year. His role will be to help penetrate the Electronics Line products into North America, along with the RISCO products.
RISCO’s intention is to maintain Electronics Line’s independent operations and product offerings, and to grow it to become the residential arm of RISCO Group by expanding the product portfolio into video and management solutions together with its major partners worldwide.
“It’s a long-term process,” Friedman said. “We don’t want to do it fast, we want to do it right.” However, he said RISCO has made “significant progress” in the last year, and pointed to the waiting list for the company’s new intrusion line, which received UL certification here at the show.
“Our work is coming to fruition,” he said. “The reaction has been outstanding.”