C.O.P.S. Monitoring Purchases Central One for $5 Million
BOCA RATON, Fla.
Devcon Int’l Corp. announces the sale of Central One, its
third-party central station company, to Lydia Security
Monitoring Inc., a New York entity operating under the name
C.O.P.S. Monitoring, for the sum of $5 million in cash.
According to Devcon, the third-party net recurring monthly
revenue included in the transaction is approximately
$325,000, thus leaving Devcon with approximately $84,000 of
the third-party revenue.
During the next few months, Devcon and Lydia will enter into discussions concerning the terms and conditions under which the remaining third-party recurring revenue will be assumed by Lydia.
“The sale of the third-party monitoring operation will allow us to focus our efforts on providing enhanced services to customers who have contracted directly with us. Beginning today, we will no longer need to expend resources on the provision of third-party monitoring services, allowing us to further streamline our monitoring center and administrative operations which, when complete, should lead to increased operating margins,” says Stephen Ruzika, president and CEO of Devcon. “C.O.P.S. Monitoring has been successfully providing third-party monitoring services for dealers on a nationwide basis for many years. We believe that our dealers and certainly our employees are being placed in good hands and will be well served in the years ahead.”
“Central One has certainly established itself as a true leader in today’s wholesale alarm monitoring marketplace. The level of professionalism and respect it commands is well deserved,” says James McMullen, president and COO of C.O.P.S. Monitoring. “This particular strategic acquisition firmly establishes the presence of C.O.P.S. Monitoring in the southeast, and fits ideally with our ‘hub and spoke’ regional approach to delivering unparalleled, high-quality alarm monitoring services throughout the nation.”
According to. McMullen, during the next 12 months security dealers using both central stations will benefit from the features and services offered by each company.
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