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Archive: December 2002


Taking stock of it

December 1, 2002Andrea Gura

Managing Editor, Security Systems News Over the years, the section in our newspaper that tracks the publicly traded companies in our industry has grown significantly, as we have become aware of new companies in the industry, as new companies have entered the industry and as companies have offered themselves to the public investor community. One of the stories that appears on our front page this month is Allied Security's plans to take that company public, an attempt to raise enough money to reduce...

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Commercial

Air Security buys U.K. firm, establishes crisis management office

December 1, 2002Chelsie Woods

DULUTH, Ga. - A deal between a systems integrator here and a Houston-based lock company has enabled the lock company's small security division to break away and position itself for growth. The arrangement involved Tech Systems buying Baker's Security Solutions Division, a deal announced in October. Transaction terms were not released. While the deal provides Baker's Security with the financial backing and other resources of a well-established systems integrator, Tech Systems gains a Houston location...

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Monitoring

Home integrator to market retail, installation concept

December 1, 2002Andrea Gura

HOUSTON - A holding company here with a structured cabling division has launched a home security monitoring service and is looking at bundling its home installation and other residential product manufacturing divisions into a national retail and installation model over the next five years. SpectraSource Inc., through its Connect Source Communications division, is now offering a branded residential monitoring service called Watchdog Surveillance by partnering with local and regional builders in Texas....

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Suppliers

Growth prompts turnstile maker Gunnebo Omega to relocate

December 1, 2002Chelsie Woods

BENICIA, Calif. - A year after being bought by a Swedish company and business more than doubling, turnstile manufacturer Gunnebo Omega is moving in early November to a facility here four times the size of the company's current space. The need for a larger facility comes thanks to a broadening of the company's product offering and increased security needs post Sept. 11, 2002, said Mike Smith, president of Gunnebo Omego. "Since the acquisition they added a lot of products to our line for sale that...

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Suppliers

Despite woes, Axcess keeps on ticking

December 1, 2002Chelsie Woods

CARROLLTON, Texas - Despite employees being on furlough, asset tracking and digital video product manufacturer Axcess Inc. said it continued to ship product and provide technical support. "We're virtually at full staff," said Allan Griebenow, president and chief executive officer of Axcess, in an interview shortly before press time. Nearly 20 people were furloughed as the company seeks additional financing. Still, Griebenow said the company continues to provide product to the market, including...

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Commercial

SPX expands reach with Vance Int'l

December 1, 2002SSN Staff

OAKTON, Va. - In a move that mirrors industry consolidation trends, SPX Corp. acquired Virginia-based Vance International to expand the company's Security and Investigations Division. SPX officials announced the purchase of Vance, a $95 million in annual revenue executive protection and guard firm, a day after the Oct. 14 acquisition. Cost of the acquisition was not disclosed. Plans call for the two companies to reorganize. SPX's Security and Investigations, which focuses on protection services...

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Suppliers

Briefs

December 1, 2002SSN Staff

Mace initiates stock buyback plan MOUNT LAUREL, N.J. - Mace Security International announced plans this week to buy up to two million shares of its own stock in a move to instill investor confidence. "We want to send a strong message to the market and to our shareholders that we are confident in Mace's fundamental value and future initiatives," said Louis Paolino, chairman and chief executive officer of Mace. Plans call for the company to buy the stock in the open market at times and prices that...

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Commercial

Briefs

December 1, 2002SSN Staff

PSA hosts shareholder's meeting CABO SAN LUCAS, Mexico - PSA conducted its annual meeting here in early October and for the first time involved vendors at the event. As part of the meeting, the organization hosted interactive business sessions that featured PSA members and others speaking about their success, ideas and providing other information, said Bill Bozeman, president of PSA. At the meeting, Darryl Keeler, president of Tech Systems, was elected to the PSA board and Bob Bundy, a PSA founder,...

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Monitoring

Olympia mulls response issues

December 1, 2002SSN Staff

OLYMPIA, Wash. - Local officials here are mulling their options, including verified response, as law enforcement and city officials try to find a solution to the false alarm problem. Police estimate that they will have responded to more than 3,020 alarms by the end of the year, 23 of which will be valid, according to a report in The Olympian. City officials were expected to begin voting on a list of general findings about the local false alarm problem in November, while devoting the winter months...

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Residential

Security firm a 'no call' offender

December 1, 2002Andrea Gura

CHESHIRE, Conn. - A two-location home security firm based here paid the state $25,000 to settle charges that the security firm violated Connecticut's new No Call list. Home & Life Security was cited by state officials for making unsolicited calls to Connecticut residents whose names appeared on the list. The company was also charged with making repeated calls to consumers who had directed the company not to call them again and for not clearly identifying itself to the consumer. The calls were made...

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