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VES-Afternoon tea and sushi

Wednesday, August 29, 2012

Four years ago, fire manufacturer VES was acquired by Kentec Electronics, a U.K.-based manufacturer of fire panels. At the time, an executive at VES (formerly Viking Electronic Services) said that “joining with Kentec brings us the international experience we didn’t have previously.” The official cited India, Saudi Arabia, Dubai and other Arab countries as the markets the company would move into.

Now, it looks like VES’ international experience may get even broader as its parent company, Kentec, is acquired by a Tokyo-based fire manufacturer.

According to a recent news report, Hochiki Corporation Japan has entered into an agreement to acquire Kentec’s stock as of Oct. 1. Then, the report said, Kentec will become part of the Hochiki Group of Companies.

The Aug. 23 release said that “Kentec Electronics will continue to be run by its current management team as a separate unit within Hochiki Corporation Japan and will continue to use existing suppliers and support all of its customers including the current sensor partners.”

And it said that its American subsidiary, VES, “will be amalgamated with Hochiki America Corporation and continue to operate from its east coast base in the United States.”

The release said that Hochiki was established in 1918 as Japan’s first fire alarm manufacturer. The report called Hochiki “a leading manufacturer of fire detection products with an expanding presence across the world.”

Kentec was founded in 1985. Together with VES, it “produces and supplies a range of control panels for fire detection, extinguishing media release, water and smoke detection and sprinkler control,” the report said.

The report said that Kentec “believes this is an opportunity to benefit both parties and to further develop its business and allow access to new World wide markets.”

How specifically will VES benefit? I’ve reached out to the company, and hope to find out.

ASIS' product awards

Tuesday, August 28, 2012

ASIS on Aug. 27 announced its choices for its "ASIS Accolades," what it considers the ten most innovative products/services/solutions that will be shown at the Sept. 9-12 ASIS International 58th Annual Seminar and Exhibits in Philly.

AlertEnterprise, Booth #3859
Alert-n-Prevent enhances security through behavior and predictive analytics with risk-scoring capabilities. Critical Infrastructure Protection is enforced by monitoring physical access as well as logical access that includes both IT systems and SCADA systems controlling plant operations. A rules-based engine ensures enforcement of security policies while ensuring compliance with regulations.

ASSA ABLOY Americas, Booth #1708
HES K 100 Cabinet Lock
The HES K100 battery-operated cabinet lock with Aperio™ technology makes it easy to bring access control and asset protection to cabinets, lockers and drawers. It communicates wirelessly with existing access control systems & offers real-time communication without the inconvenience of wiring. K100 offers seamless integration with existing iCLASS® credentials.

ASSA ABLOY Americas, Booth #1708
Securitron ICPT Wireless Power Transfer
The Securitron ICPT Power Transfer ports power wirelessly and invisibly across the door gap to run electrified hardware on the door. The ICPT can be installed at the latch side or hinge side of the door and transfers power without pins or wires, eliminating points of vulnerability and wear … and no need to core the door!

Axis Communications, Booth #2622
Axis Camera Companion
AXIS Camera Companion is the market’s easiest IP video surveillance solution for small systems up to 16 cameras. The system is an all-in-one, easy-to-use IP-based surveillance solution consisting of Axis cameras and/or encoders, SD cards, a switch or router and free recording software - no DVR, NVR or computer is needed for operation.

CAST Lighting, Booth #4239
CAST LED Perimeter Light
The CAST LED Perimeter Lighting System is comprised of low-voltage lighting fixtures that provide an extremely cost-effective highly-targeted region of illumination along perimeter fence lines. Mounted directly on the fence at 20 or 30-foot intervals, these 7W LED fixtures are glare-free and provide sufficient illumination for intruder detection and deterrence.

D3 Security Management Systems, Booth #2024
Geospatial Intelligence Analytics (GIA)
D3’s GIA is the next generation security management system created to protect organizations from internal, external, local and global threats. It provides security professionals with the situational awareness and information they require to assess risks and react appropriately and effectively to deal with threats or emergency situations.

Gamma Two Robotics, Booth #1463
Vigilus™ Mobile Camera System
The Vigilus™ Mobile Camera System is your robotic partner in patrol and report security, carrying IP-ready devices such as cameras and authentication tools. Using voice commands or the (supplied) Command Console interface, the robot is your reliable, affordable asset on the ground, where you need it, when you need it.

HID Global, Booth #1509
iCLASS Seos™ Card
HID Global’s iCLASS Seos™ smart card is based on a secure, standards-based technology to manage and authenticate identities within the Seos ecosystem. This breakthrough credential leverages HID’s Security Identity Object™ (SIO); streamlines migration by concurrently supporting multiple technologies; and can store data for multiple applications on a physical card or mobile device.

iView Systems, Booth #1901
iGWatch® IP iDentify Face Search
The iDentify biometric solution automates database person searching, by instantly narrowing down possible subjects from 1000s, to one or more individuals in seconds. This solution replaces manual systems such as operator comparison of known subjects to “mug” books, providing a real-time aid in the identification of persons of interest.

SpotterRF, Booth #1244
SpotterRF C40 Compact Surveillance Radar
The Spotter C40 is an IP Radar that makes PTZ cameras smart by providing 20 acres of automatic tracking and cueing in a package that weighs a mere 1.5 lbs. The C40 is the first of its class and makes radar as inexpensive and easy to use as IP cameras.

Who in security topped the Inc. 5000 this year?

Wednesday, August 22, 2012

The Inc. 5000 has released its 2012 list, and again, there are a number of physical security companies included.

Top among the physical security companies that I saw on the Inc. 5000 list, which was officially released yesterday was VMS Alarms, a residential and small business security company and Monitronics dealer.

VMS Alarms ranks #526 on the 2012 List. It had a three-year growth rate of  731 percent; 2008 revenues of  $2.3 million, and 2011 revenues of  $19.5 million.

Here's my blog on security companies who made the list in 2011, and below are some other manufacturers and installers from the security industry:

#636 EP Technology: 2008 revenues of $2.8 million and 2011 revenues of $18.6 million. Manufactures and distributes intelligent video security products. Focuses on manufacturing and supplying closed-circuit television systems, security cameras and digital recording devices.

#770 Eid Passport: 2008 revenues of $5.3 million and 2011 revenues of $29.2 million. Offers products and services that combine identity authentication, background screening, and access management to make facilities, assets, and people safer and more secure. Eid Passport's patented programs enable highly secure facilities such as military installations, government buildings, manufacturing and distribution sites, ports, and commercial buildings to increase security and streamline access for authorized personnel.

#826 Exacq Technologies: 2008 revenues: $6.3 million; 2011 revenues: $32.3 million. Develops open architecture, video management system solutions for security and surveillance applications.

#943 Sting Alarm: 2008 revenues: $1 million; 2011 revenues: $4.5 million. Installs and maintains advanced video surveillance and burglar alarm systems for high-rise residential towers, casinos, retail chains, and other customers.

#1097 LogicMark: 2008 revenues: $2 million; 2011 revenues: $7.7 million. Manufactures a line of personal emergency response systems. Users, such as the elderly or those with serious medical issues, wear a pendant with a speakerphone, and can push a button to call for help.

#1123 Nationwide Security Solutions: 2008 revenues: $1.6 million; 2011 revenues: $6 million. Sells and installs residential and commercial security and automation systems. Serves as the primary distributor for represent Monitronics International, a producer of security and monitoring technology for burglar, fire and medical emergency systems. Also offers two-way voice, cellular, and medical monthly monitoring plans.

#1255 Integrity Alarms: 2008 revenues: $1.6 million; 2011 revenues: $6 million. An ADT authorized dealer that sells, installs, and maintains home security systems in California, Nevada, New Jersey and Delaware.

#1312 Radiant RFID: 2008 revenues: $1.9 million; 2011 revenues: $6.3 million. Designs, installs, and integrates technology that tracks, locates, and monitors people and products for government, education, and corporate customers. It can be used to keep track of and protect a company's physical assets; for access control in gated communities; to monitor attendance and capture traffic flow at large events such as trade shows; and to manage large-scale evacuations.

#1464 SecurityHunter: 2008 revenues: $2.3 million; 2011 revenues: $6.9 million. Designs, manufactures and installs electronic and physical security systems that are used by federal agencies, including the Department of Defense.

#1483 AMP Alarm: 2008 revenues: $8.5 million; 2011 revenues: $25.7 million. Sells and installs security systems to protect people, their homes, and their possessions and to arrest and prevent burglary, fire, and medical emergencies.

#1485 Alert Logic: 2008 revenues: $7.1 million; 2011 revenues: $21.4 million. Provides security services for cloud computing allowing customers to defend against security threats and address compliance mandates. Alert Logic partners with over half of the largest cloud and hosting service providers to provide fully managed intrusion protection, vulnerability assessment and log management for nearly 2,000 enterprise customers.

#1661 InVue Security Products: 2008 revenues: $36 million; 2011 revenues: $98.9 million. Designs and manufactures security devices that allow retailers to openly display electronic merchandise that poses a high risk of theft.

#1824 Smith Monitoring: 2008 revenues: $2.1 million; 2011 revenues: $5.3 million. Offers home security and monitoring systems, and home automation integration systems.

#1894 NDI Recognition Systems: 2008 revenues: $2.1 million; 2011 revenues: $5.3 million. Designs and manufactures automated license plate recognition technologies for use in law enforcement and other public safety applications. Its offerings include both mobile and fixed cameras, mobile processors, the Talon recognition engine, VeriPlate mobile application software, and installation and support.

#2056 Defender Direct: 2008 revenues: $312 million; 2011 revenues: $136 million. Sells and installs ADT home-security and Dish Network systems for homeowners.

#2192 IntraLogic Solutions: 2008 revenues: $1.4 million; 2011 revenues: $3 million. Provides security and surveillance services and systems to school districts, municipal clients, state offices, government agencies and private-sector clients. Designs, installs and maintains broad-spectrum security systems that use the latest technology and cost controls.

#2196 DTT Surveillance Systems: 2008 revenues: $7.9 million; 2011 revenues: $17.2 million. Supplies, installs and supports digital surveillance and monitoring equipment for the restaurant and hospitality industries. DTT's video systems include security, theft-prevention and quality-control products.

#2961 PowerHome Technologies: 2008 revenues: $9.6 million; 2011 revenues: $16.8 million. Specializes in the sale and installation of residential and small business security systems.

#3477 Intelligent Access Systems of North Carolina: 2008 revenues: $8.8 million; 2011 revenues: $13.5 million. Offers electronic security integration, primarily in the critical infrastructure, healthcare, and higher education markets.

#3842 Electric Guard Dog: 2008 revenues: $12.4 million; 2011 revenues: $17.5 million. Provides perimeter electric security fencing across the nation for industrial and commercial locations.

#4175 Sentry Communications: 2008 revenues: $3.9 million; 2011 revenues: $5.1 million. Installs and services security systems, including digital CCTV, fire systems, and access control, for commercial, industrial, and residential clients.

Department of Redundancy Department: Five for COPS

Wednesday, August 22, 2012

Make it five for COPS.

The wholesale monitoring company, headquartered in Williamstown, N.J., has opened its fifth central station, an 8,000-square-foot facility in Lewisville, Texas. The new center will share live alarm traffic with the company’s centrals in New Jersey, Florida, Arizona and Tennessee.  

Four-year COPS veteran Derek Kopko will manage the new facility, which has 26 employees. Kopko relocated to Texas from COPS’ headquarters in December 2011 and has been hiring and training new dispatchers for the past seven months, the company said in a prepared statement.

Gene Reed, an industry veteran and COPS’ newest account executive, will oversee sales in the region.

David Smith, director of marketing and communications for COPS, told Security Systems News that adding central stations benefits the company in two key ways.

“First, because all five of our central stations are hot-redundant and actively share the signal load of the entire company, each central station we bring online reduces the probability that adverse local conditions [such as weather] will affect our response times,” he said. “Second, we believe that each geographical region presents its own benefits and challenges to alarm dealers. By operating central stations and having employees in these different regions, we have the opportunity to become more involved with our dealers and better understand how we can support them and help grow their business.”

Smith said the commitment to redundancy proved its worth last August during Hurricane Irene.

“When (Irene) went up the East Coast and actually hit our New Jersey headquarters, it only added about a second to our response time because we were able to overstaff all our other central stations,” he said. “The more we do that, the more that we diversify our staff, the more stable and dependable our fast response times become.”

Cox to expand home security

Wednesday, August 22, 2012

First, Cox Communications began trialing its new home security/home automation in Tucson, Ariz. last summer. Then, it expanded the service to customers in Phoenix this April. Now, the Atlanta-based cable company announced yesterday, the pilot project has been such a success that the company plans to launch Cox Home Security—which is professionally installed and monitored by a third-party provider the company has declined to name—to other markets later this year.

Where? That’s still anybody’s guess. Todd Smith, director of media relations for Cox, told SSN that the company "plans to expand its Home Security service to several additional markets later this year, following a successful pilot over the last 12 months in Arizona. We’ll announce specific markets as we get closer to launch.” The company also is not saying exactly when that will be.

But Cox did say that it has appointed a new general manager for this new growth area: Vince Groff, formerly the company’s director of video product development.

Here’s more from a company news release:

“Cox Home Security provides advanced features not found in most traditional alarm systems with time-saving, cost-saving, and worry-saving features to help customers manage their family’s safety. The reliable, 24/7 secure monitoring systems feature: intrusion and home safety monitoring (includes fire, gas and flood); remote access so the system can be controlled away from home via a secure online site or Smartphone app; email/text alerts to notify customers of occurrences at the home; safety sensors to detect hazardous conditions such as carbon monoxide and smoke; secure video monitoring available via smart phone or a web browse; [and] control of home functions such as lighting and temperature.

One of Cox’s competitive advantages with this product is the ability to offer to customers through a Cox bundle. With the addition of home security services, all of a customer’s Cox services will appear on one bill …
As Cox moves to the next stage of deployment, the company has appointed Vince Groff to the new role of general manager of this new business. Groff led the initial Cox Home Security development and trial execution and will now be responsible for the broader rollout and ongoing management of this new business.

Groff joined Cox in 2000 and was a director of video product development before his promotion to executive director of new growth and development. Vince began his career in systems engineering at Delta Air Lines, and also spent time in strategy consulting and venture capital before coming to Cox.

Cox’s launch in 2011 made it a leader among the telecoms and cablecos entering the security market. Check back here for more developments on this new industry player.


Second security lapse at JFK reported

Monday, August 20, 2012

A few days after a jet skier swam to shore and breached the security perimeter of JFK airport here by climbing a fence, reports of another security lapse has been reported.

The New York Post on August 16 reported that it had obtained a secret memo describing an unsecured gate on the airport property. The gate protects a main jet fuel supply line into the airport, the report said.
The gate “was left vulnerable because a security camera was either malfunctioning or not designed to pick up the image,” according the New York Post report.

The report includes quotes from Port Authority executive director Patrick Foye and Paul Nunziato, president of the Port Authority Police Department labor union (the PBA) Port Authority Police Benevolent Association.

However, on Aug. 17, the labor union issued a statement clarifying Nunziato’s remarks.

In that statement, Nunziato called the New York Post report “inaccurate” and said “there has been some misunderstanding of the terms utilized in reports concerning a security gate at JFK which was noted in a report as being unsecured … the gate in question was NOT unlocked and was NOT reported to be unlocked. This same information was also conveyed to the Post by the Port Authority.”
“The Post’s portrayal that I was at odds with Executive Director Patrick Foye’s comment regarding the report is not correct,” the statement continued.

The statement said that PBA “has repeatedly raised concerns regarding the effectiveness of the Port Authority’s Perimeter Intrusion Detection System (PIDS), procured and installed under the previous administration of former executive director Christopher Ward. Despite concerns over the security determinations made by the prior administration, Nunziato stressed: “the Port Authority’s current leadership of Chairman David Sampson, Vice Chairman Scott Rechler, Executive Director Patrick Foye and Deputy Executive Director Bill Baroni are clearly dedicated to improving Port Authority policing and security issues and we look forward to continuing to work with them toward achieving those goals.”
The Post report says that since the jet skier breached the security perimeter, the Port Authority of New York and New Jersey has “beefed up patrols and added a round-the-clock officer to the room where the fence is monitored by security guards.

ACA acquires in Alabama

Wednesday, August 15, 2012

Smooth. That’s how Alarm Capital Alliance described a recent transaction that added more than 1,000 accounts to its existing account base in Alabama.

ACA, a Media, Pa.-based independently-owned company that acquires and manages security alarm contracts, acquired the accounts through an asset purchase transaction with Ultimate Security of Scottboro, Ala., according to a news release issued last week.

Ultimate Security will stay in business and continue to service ACA customers, according to the Aug. 7 release.

In the release, Kelly Bond, VP of sales and marketing for ACA, remarked, “This was one of the smoothest transactions that we’ve entered into.”

Ultimate President Richie Burns said in a prepared statement that this is a “tremendous transaction that allows us to remain in business, continue to sell accounts and provide service for all of our friends and customers.”

Bond said, “Richie has a great staff and quality accounts, and we’re looking forward to a prosperous relationship.”

Terms were not disclosed. Ron Davis, of Davis Mergers and Acquisitions Group, represented the seller.

3G vs. 4G: AT&T’s ‘sunset’ fuels debate

Wednesday, August 15, 2012

While AT&T has finally set a date and ended the discussion over when it will push 2G into the sunset, the points of contention grow sharper over 3G versus 4G and the merits of each for cellular alarm communication.

Boiling down the argument to its simplest terms, this much is clear: Technology touted as 4G is faster and more expensive. But is that extra speed worth the money, and more importantly for alarm dealers, will it contribute to longevity in the field? And what is “real” 4G anyway?

On Monday, I talked with two industry experts who couldn’t be further apart on the issue: Gordon Hope, general manager of AlarmNet at Honeywell, and Shawn Welsh, vice president of marketing and business development for Telguard. Both made what seemed to be valid arguments, although I confess I’m not qualified to comment on the technical merits of each. What I can do is define HSPA (High Speed Packet Access), HSPA+ (evolved HSPA), and LTE (Long Term Evolution), and offer a bit of what each man had to say:

Hope: “I don’t know whether it’s accidental or intentional, but it seems like our industry is mixing 3G and 4G together in one sentence. In reality, there’s clearly a difference—the carriers delineate it. HSPA+ and LTE from AT&T’s perspective are legitimate 4G technologies, and everything else isn’t.”

Welsh: “At a recent webinar, AT&T and Qualcomm both basically reiterated this statement: 4G is the same as 3G, it just costs more. To get down to the letter version of that, HSPA+ is the same thing as HSPA as it relates to longevity, it’s just that HSPA+ costs more.”

Hope: “We believe the best thing to do is to move up and provide a 4G radio, not stopping at 3G. HSPA+ is a 4G technology … it’s just plain faster. In AT&T’s announcement [about 2G], they even made statements that a third of their postpaid subscriber base is already using 4G technology, not 3G. That speaks to the fact that if you’re not thinking about 4G, you’re probably going to leave yourself shortchanged if you stopped at 3G network capability in the radio module you chose. We went through the additional expense to include HSPA+ 4G technology in our radio. We believe it’s going to directly translate into longevity on the wall.”

Welsh: “There’s a thought that 4G is somehow better than 3G and that somehow it will be around longer, because certainly each generation will be around longer than the previous generation. In this case it’s a misnomer, because 4G as it relates to HSPA+ is really a marketing trick, unfortunately. … What happened was that AT&T and Verizon both went out and bought up spectrum in order to deploy real 4G called LTE. And 4G LTE got a certain level of throughput—it was really fast. Well, T-Mobile did not get spectrum, so they were stuck having to advertise 3G when their major competitors were going to start advertising true 4G LTE. So they simply did what a marketing organization might do. They just said, ‘Hey, you know what? This new 3G HSPA+ is so fast it goes just as fast as that LTE they’re going to deploy, so you know what we’re going to do? Let’s just call ourselves 4G. All that really matters is the speed anyway.’ So overnight they rebranded themselves as 4G in order to compete with the marketing term of 4G LTE. And literally that’s what happened. AT&T was forced to start calling their HSPA+ network— which was really just a 3G network—a 4G network in order to compete with the marketing spin T-Mobile was putting on things. And that’s how we got 4G as it relates to HSPA+.”

Hope went on to say that while speed traditionally hasn’t been important to the alarm industry, it will play a bigger role in attracting future generations of consumers who will be loading their tablets and smartphones with security applications and a whole lot more. Welsh reiterated that longevity will remain the top priority for alarm dealers, and “from a cost standpoint, HSPA+ is a more expensive solution for the exact same longevity.”

For the record, the International Telecommunication Union states on its website that the only “true 4G technologies” are LTE Advanced and WirelessMAN Advanced, neither of which has been deployed on a large scale. The ITU goes on to say, however, that the term 4G may also be applied “to the forerunners of these technologies, LTE and WiMax, and to other evolved 3G technologies providing a substantial level of improvement in performance and capabilities with respect to the initial third-generation systems now deployed.”

That sounds like a gray area open to commercial and consumer interpretation, but there's no arguing this point: Alarm dealers with radios on AT&T’s 2G networks will have to upgrade by 2017 or they’ll be left in the dark. The fadeout due to spectrum harvesting will accelerate before then, so sooner is probably better than later. Then it's just a question of sorting out the Gs.

Lowe’s Iris: Boon or bane in fight against false alarms?

Wednesday, August 8, 2012

On one hand, it’s hard not to see the appeal of Lowe’s new Iris home management system. It’s do-it-yourself for those with the dexterity to install a thermostat, it’s cloud-based so homeowners can control and check on their properties remotely, and it’s inexpensive: starter kits range from $179 to $299, and there are no monthly fees for those who choose to do their own alarm monitoring.

On the other hand, how many homeowners are really prepared to be their own central station?

Sarah-Frances Wallace, a Lowe’s spokeswoman, recently touted the self-monitoring aspect of Iris in an interview with SSN's Tess Nacelewicz. Wallace said homeowners “can respond appropriately” when they receive a security alert, using an Iris camera to see “if there’s an intruder in your home that would require police response … or if it’s the dog knocking something over.”

Wallace said DIY monitoring helps avoid the problem of false alarms, for which many municipalities now charge homeowners a penalty. “This kind of gives the homeowner more control over triggered alarm events in the home,” she said.

But what happens when the homeowner decides the alarm is legit, they call 911, police respond and they find nothing amiss? What happens when the scenario gets played out three or four times in a month at the same residence? Do you think the municipality is going to continue to absorb the cost of dispatching officers and cruisers?

Ask any alarm company owner and I think you'll get a consistent response to that. Municipal budgets are tight and they're only going to get tighter. Just because a professional wasn't involved in the installation and monitoring of a system doesn't mean local officials are suddenly going to forgive and forget when it comes to false alarms.

For homeowners who want a little help when it comes to dealing with alerts from their Iris system, Lowe's offers a self-monitoring service for $9.99 a month. "You can set it up so if there's a triggered event in your home, it would email [or text or call] your neighbor … [or a] small network of people you'd want to receive notification of events," Wallace told SSN.

The service is ideal "if you're on vacation and you receive a notification that there is an event in your home," she said. "You could contact your neighbor—because they've also received [the notification]—and they could look into it for you."In a perfect world, it all ends well. If a pet triggered the alarm and the neighbor happens to be around to make that determination, everyone sleeps easy that night. But what if it wasn't Fido who did the deed and it's an intruder instead? What happens when the neighbor walks headlong into that situation?

Hello, Ken Kirschenbaum.

The point is, there are times when it pays to do things yourself and times when it pays to let professionals handle it. Again, it's hard to dispute the appeal of Lowe's Iris system for many people and for many applications. But should home security be one of them? Let the buyer beware.

Devcon’s new operations center to shut its doors in September

Wednesday, August 8, 2012

I reported this summer that Devcon Security, a Hollywood, Fla.-based super-regional, was planning to shut down its new 23,000-square-foot national operations center in Irving, Texas by the end of the year.

Now it appears the closing will take place next month. Devcon plans to close the facility Sept. 5, laying off 197 employees, according to a report this week by the Dallas Business Journal. The facility opened in February 2011.

CEO Steve Hafen previously told me that closing the center was part of a company plan to reduce expenses and strengthen the company’s finances for future profitability and growth.

The company also is closing branches nationwide, a reversal of a rapid expansion it had recently undergone. In the past 18 months, Devcon, acquired by San Francisco-based Golden Gate Capital in 2009, transformed itself into a national player with more than 50 branches around the nation.

Hafen previously told me: “Devcon has experienced many changes over the past 18 months, including an aggressive growth initiative and subsequent streamlining of some branch operations.” He said then a reduction in the company’s workforce was anticipated.

The business journal reported that Devcon issued a statement saying that it “has aimed to, and has already made progress on, helping displaced employees transition into new opportunities through job fairs and résumé assistance programs. Devcon Security believes that these changes, while challenging, will strengthen the company and enable more opportunities for those in the industry long term.”