Phew, we can finally bid adieu (for some good riddance) to 2008 — one of the most topsy-turvy years in U.S. history. However, despite the ceaseless recession talk and onslaught of grim news most electronic security professionals I spoke with throughout the year were largely unscathed, other than those too reliant on the homebuilder market.
Yet most are still waiting to exhale for fear the other shoe may finally drop on our industry in 2009. Whether you are a starry-eyed optimist or dyed-in-the-wool pessimist, it makes smart business sense to be a bit paranoid about operations as the nation continues to nurse its economic woes and we stand on the precipice of new leadership in the White House.
Becoming obsessive about profitability and efficiency can only make your business stronger and better in the long run. Doing so also places companies with solid management and financials in an outstanding position to beat the competition, and potentially acquire less savvy players at bargain-basement prices during the inevitable fire sales.
Those in this industry that continue to play to their strengths, exploit opportunities and assume a take-no-prisoners mentality should continue to do just fine — no matter what the future holds. So, happy New Year! But before we close the books on 2008, here are my picks of SSI’s top news headlines.
January
Bosch Buys Extreme CCTV for $92 Million
Note: Bosch boosts video security portfolio with infrared imaging and license plate capture specialist
February
L-1 Identity Solutions to Acquire Bioscrypt
Note: Identity verification firm gets into access control with $44.5M bid for famous biometrics name
March
Brink’s to Spin Off Home Security Unit
Note: Alarm industry power set to become separate, publicly traded entity, and change name in few years
April
ADT Security Expands With Integration Acquisition
Note: $187M for Security Services & Technologies (SST) expands commercial/industrial footprint
May
NationWide Digital Monitoring Partners With Smith & Wesson
Note: Renowned firearms maker enters security industry by licensing name for dealer program
June
Stanley Works to Acquire Sonitrol in $275M Deal
Note: Nation’s 8th-largest provider with two monitoring centers tops Stanley’s acquisitive year
July
C.O.P.S. Monitoring Buys SAI’s Wholesale Monitoring Business
Note: One of monitoring’s best-known brands sheds 900 dealer contracts and 128,000 subscriber accounts
August
SIA Releases OSIPS Framework Standard
Note: ANSI-approved standard advances push toward open platform interoperability, integrability
September
President Signs Cooperative Purchasing Legislation
Note: SIA-authored bill allows government to buy security systems at GSA-approved reduced prices
October
Fontana (Calif.) Approves No-Response Alarm Policy
Note: Alarm company fines up to $200 a reminder industry must remain vigilant in false alarm issues
November
UTC Withdraws $2.6B Offer for Diebold
Note: Biggest deal of year falls through for banking industry leader and security integration specialist
December
Note: Buyout of Japanese rival would create giant electronics empire with combined sales of $111.5B
