Archive: June 2007
New working capital for GE Security channel partners
June 28, 2007SSN Staff
HOFFMAN ESTATES, Ill.--GE Security channel partners have new capital available to them under a new financing program called Working Capital Solutions, introduced by GE's Commercial Distribution Finance unit on June 20.
Working Capital Solutions has three programs: Extended Terms Financing, to help dealers more closely match repayment terms with accounts receivable, thereby improving cash flow; Purchase Order Funding, credit for dealers to fulfill purchase orders for government, educational institutions...
Tyco bondholders file lawsuit against Tyco International
June 28, 2007Martha Entwistle
NEW YORK--Saying Tyco's planned spin-off of two businesses violates the conglomerate's contractual obligations to them, a group of Tyco bondholders on June 25 joined a lawsuit against Tyco International.
The bondholders took this action just days before Tyco International intends to spin off its health care business (called Covidien) and its electronics business (called Tyco Electronics). The remaining entity, Tyco International, is the umbrella for its security and fire businesses. The break-up...
General Solutions integrates Canon IP cameras
June 28, 2007L. Samuel Pfeifle
HOUSTON and LAKE SUCCESS, N.Y.--General Solutions and Canon have announced that Canon IP cameras are now fully compatible with General Solutions' DigiOp line of DVRs, hybrid video-management devices that allow for both analog and IP video streams, along with real-time audio.
Ricardo Chen, manager of technical marketing and sales training for the Consumer Imaging Group at Canon U.S.A., said, "General Solutions was one of the companies we'd been targeting for a while ... They've been selling product...
Analytics maker Agilence lands NextStage funding
June 28, 2007SSN Staff
MOUNT LAUREL, N.J.--Agilence, a maker of event-based video analytics, announced last week it has closed an investment round of unspecified size, with NextStage Capital as the lead investor. This is the company's first institutional funding round.
The company's analytics are built into StoreVision, a product that offers surveillance and auditing capabilities for retailers; TollVision, an audit solution for toll systems like E-ZPass; and V-Metrics, a video content analysis engine used for license plate...
Selectron, Vasona to conduct campus case study
June 28, 2007L. Samuel Pfeifle
PORTLAND, Ore.--Security systems integrator Selectron has teamed with mass notification software firm Vasona Technology to launch a Campus Public Safety Case Study Program, which will include free installations on select college campuses and a campus security seminar, to be held July 9 and 10. Long an important vertical for the security industry, college campus security has come into the spotlight since the Virginia Tech shootings on the morning of April 16, and the mass-notification software that...
Murdoch acquires Fortress, looks for more guard firms
June 28, 2007Martha Entwistle
NEW YORK, N.Y.--Guard company Murdoch Security Group on June 25 announced the acquisition of Florida guard company Fortress Protective Services, the third East Coast guard company acquired by Murdoch since it was founded in 2004.
Full terms of the deal were not released. However, Murdoch president Bill Vassell emphasized that the owners of Fortress Protective Services retained some ownership in the company and will continue to run the company under the Fortress brand.
"We allow the entrepreneurs...
Tyco outlines more post-spin-off plans
June 21, 2007L. Samuel Pfeifle
HAMILTON, Bermuda--Tyco International, in a conference call held Tuesday, outlined more plans for operations following the spin-off of its electronics (Tyco Electronics) and health care business (to be known as Covidien; search "Tyco announces reorganization" at www.securitysystemsnews.com for more on new organizations) at the end of June. Edward Breen, who will remain Tyco International's lead executive, told investors the company will look to increase core revenue four to six percent annually,...
FCC puts kibosh on AMPS extension
June 21, 2007SSN Staff
WASHINGTON--It's official: On Friday, June 15, the FCC officially denied the AMPS extension request filed by the AICC and ADT Security and will continue with the February 18, 2008, sunset of legislation requiring cellular licensees to support analog service equipment. The original request was for a two-year extension on the requirement that cellular licensees provide analog service to subscribers and roamers whose equipment conforms to the Advanced Mobile Phone Service, or AMPS.
Lou Fiore, chairman...
ADT appoints board to advise WellHealth
June 21, 2007SSN Staff
BOCA RATON, Fla.--ADT Security Services announced yesterday the creation of a medical advisory board for its health monitoring services, called ADT WellHealth. All five members of the board come from a medical background.
Michael Lynch, Ph.d, is the director of ADT WellHealth: "The experience, quality and dedication of our board members will tremendously benefit ADT as we continue to roll out or WellHealth suite of products. We will count on these professionals to help us keep WellHealth relevant...
Bosch centralizes North American repair to Lincoln, Neb.
June 21, 2007L. Samuel Pfeifle
FAIRPORT, N.Y.--Bosch Security Systems has announced it will soon consolidate all of its North American warranty and non-warranty repairs to one location in Lincoln, Neb., one of four sites where recent large acquisition Telex performed repair and service operations. The move will reduce the number of Bosch locations performing repair and service work from seven to no more than three, and possibly just one. Further, there will be no more third-party outsourcing of repair work after the move is finalized.
Once...