Mace is going to buy that central
Remember how I was telling you Mace was going to buy a central? Here we go:
Mace Security International Signs Letter of Intent to Acquire a Wholesale Security Monitoring Company HORSHAM, Pa. -- April 01, 2009 Mace Security International, Inc. ("Mace" or the Â³CompanyÂ²) (Nasdaq Global:MACE) today announced that it signed a letter of intent to acquire a wholesale security monitoring company. Mace anticipates that it will sign a definitive purchase agreement within 30 days, and plans to consummate the transaction within 30 days after signing the definitive purchase agreement. The wholesale monitoring company has a UL-listed monitoring center that maintains over 30,000 accounts. Mace will not disclose the name of the company until the definitive purchase agreement is signed. "We are very excited about this future acquisition," said Dennis Raefield, Chief Executive Officer and President of Mace Security International, Inc. "As Mace previously announced, we are focused on revenue growth in our Security Segment. I announced a strategy in December 2008 that included Mace's goal to purchase a wholesale security monitoring company to complement our surveillance product line. This allows MaceÂ¹s sales force to offer a new product to its Professional Dealers, and allows the Company to generate recurring monthly revenue from the monitoring service. We believe that offering a traditional third party monitoring service, plus advanced future remote-managed services, will increase our dealer loyalty and strengthen our position in the marketplace." The letter of intent is subject to customary closing conditions. Although there can be no assurance that this acquisition will ultimately close, the Company is optimistic that the conditions will be satisfied.