Westec Interactive gains new owners
November 4, 2004
IRVINE, Calif. - Westec Interactive, one of the first companies to offer interactive video monitoring, has come under new ownership.
The company was bought Oct. 29 by Level 5 Security, an installation and video monitoring firm in Boca Raton, Fla. Terms of the transaction were not released.
The transaction provides Level 5 Security with an interactive video monitoring application, an area of the security market that Level 5 SecurityÃ¢â‚¬â„¢s Chief Executive Officer Jerry Vento considers the future of the industry.
Ã¢â‚¬Å“He is a visionary,Ã¢â‚¬Â said Michael Upp, vice president of business development at Westec Interactive. Ã¢â‚¬Å“He sees interactive as the next trend he wants to get behind.Ã¢â‚¬Â
According to Mitch Johnson, who took over as president of Westec Interactive, Level 5 SecurityÃ¢â‚¬â„¢s plan is to grow the business.
Westec Interactive currently serves more than 100 customers and monitors more than 1,700 locations. The company employs 80 people.
Level 5 Security bought Westec Interactive from Secom, a security company based in Japan. Westec Interactive began operations in 1996, as part of a spin off from SecomÃ¢â‚¬â„¢s residential business, Westec Security.
But over the past few years, Secom has sold its security interests in the United States, including Westec Security. Westec Interactive was reported to be SecomÃ¢â‚¬â„¢s last remaining U.S.-based business.