Convergint Technologies Acquires ICD Security Solutions

By Ashley Willis

SCHAUMBURG, Ill. — Convergint Technologies has acquired ICD Security Solutions, a provider of physical security systems and services throughout the Asia Pacific region, for an undisclosed amount. The deal is Convergint’s first foray in international expansion.

Since 1997, Shanghai-based ICD provides security services, including system design, integration, support, training and monitoring services to clients spanning across greater China, Singapore, Japan, India, Australia and the United States.

For many years, ICD and Convergint have served as business partners through the Convergint Connect initiative. It was through this partnership that Convergint observed that both companies had similar business strategies, making ICD ideal to acquire.

“In many ways, ICD mirrors Convergint in skills, focus and customer satisfaction,” Convergint Technologies CEO Dan Moceri tells SSI. “Both organizations have significant strengths that we believe we can leverage between one another and build an even better company.”

Moceri declined to state how much recurring monthly revenue (RMR) the deal brings to the company, but says Convergint will retain all off ICD’s more than 200 employees, who are located in 12 offices that operate in seven countries throughout Asia Pacific.

“Joining Convergint is an exciting new development for us,” ICD Security Solutions CEO Ron Efron says. “Together we can bring significant benefits to those companies desirous of a single global solutions partner that can provide consistent support across multiple regions.”

This is the second acquisition for Convergint this year, as the company acquired Qualified Systems in October. Last year, the firm entered an agreement with private investment firm KRG Capital, helping the company to aggressively pursue growth through organic growth acquisitions in 2014.

As the New Year approaches, Convergint also plans to offer more IT-based solutions to clients. Moceri notes that if electronic security contractors fail to provide such services, they could find themselves out in the cold.

“We continue to see and drive the shift of security more towards the IT side of the business,” he explains. “Higher levels of integration into the business enterprise will further separate the gap between installing dealers and systems integrators.”

Ashley Willis is associate editor for SECURITY SALES & INTEGRATION magazine. She can be reached at [email protected]

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