NACC put on the block, IASG plans to buy it
October 7, 2004
IRVINE, Calif. - National Alarm Computer Center, the third-party monitoring company owned by Tyco International since 2001, is being sold to fellow security firm Integrated Alarm Services Group for $50 million in cash.
This week IASG announced that it signed an agreement to buy NACC. If it receives government approval, the deal would provide IASG with approximately 240,000 additional monitored customers, bringing its monitored alarm base to 765,000 accounts.
As part of the deal, IASG would acquire the companyÃ¢â‚¬â„¢s monitoring facility in Irvine, Calif., and a portfolio of secured loans to alarm dealers that total $29 million. The deal is expected to close in mid-November.
IASG already has a significant reach in the security market, thanks to several acquisitions the company completed since it went public in 2003. The company owns Criticom International, a third-party central station with offices in California and New Jersey, and full-service security company Protection Services Industry of Rancho Cucamonga. IASG has also acquired the assets of a number of other security companies, including accounts from Alliant Protection Services and Apex Security.
TycoÃ¢â‚¬â„¢s plan to sell NACC appears to be part of the conglomerateÃ¢â‚¬â„¢s strategy to sell off more than 50 small businesses, with half of those expected to come from its fire and security businesses worldwide.
Earlier this year, Tyco sold its Sonitrol Corp. franchise to a group of investors comprised of three private equity firms for $125.5 million. That transaction marked TycoÃ¢â‚¬â„¢s first sale of a North American-based fire and security business.