AMERICAN FORK, Utah—Platinum Protection has defaulted on a promissory note of more than $10 million that it agreed to pay when it bought out the company’s startup investors in 2011, a recently filed lawsuit charges.
LOUISVILLE, Colo.—Safe Systems, based here, opened a new satellite office and made two acquisitions in 2012. In 2013, the company plans to acquire again as well as grow organically—all part of a multi-year growth strategy.
ROMEOVILLE, Ill.—Protection 1—which bills itself as the nation’s second-largest business and home security company—announced this week that it has acquired Vintage Security, which is based in the nation’s capital and has more than 15,000 customers. Protection 1, based here, says the acquisition is the largest it has made in its 25-year history.
DALLAS—After entering the security space last summer with trials here and in Atlanta of its home security/home automation service called Digital Life, AT&T announced this week it will launch its offering in eight markets in March and have it available nationwide by the end of 2013.
BOCA RATON, Fla.—The ADT Corp. already has about 16,000 employees, but since spinning off from Tyco International in the fall, the home security giant has become even more of a job creator, adding hundreds of new hires around the country.
NEW YORK—At the Imperial Capital Security Investor Conference here on Dec. 13, Devcon’s chairman of the board, Christopher Munday, spoke frankly about the company’s challenges in the past couple of years—including an ill-fated branch expansion. He confirmed that the company is actively seeking a buyer and shared several operating and financial metrics to support his assertion that the company is on strong footing.
John Bergher, EVP of marketing and customer care for Sacramento, Calif.-based GHS Interactive Security, talks to Tess about the partnership GHS formed this spring with Solar Universe to offer homeowners a solution combining security, home automation and solar.