IASG Acquires Alarm Accounts in Arizona, Idaho
Alarm services provider Integrated Alarm Services Group Inc. (IASG) has acquired a portion of the account portfolio of Tempe, Ariz.’s ProAlert LLC. The accounts, the equivalent of 7,100 alarm contracts, were purchased for $5.75 million. ProAlert, formerly known as Phoenix Alarm, has been operating under Chapter 11 bankruptcy protection since September 2003.
The contracts acquired by IASG represent $212,000 of recurring monthly revenue (RMR) and, according to IASG Chairman and CEO Timothy McGinn, represents another step in his company’s growth plans.
“The accounts are consistent with our objective of focusing on markets with strong economic activities, above-average real estate values and a recognized appreciation of personal and property security,” McGinn said in a statement. “The acquisition price further evidences our disciplined approach to acquiring accounts.”
The monitoring of the accounts will be transferred to IASG’s National Alarm Computer Center (NACC) central station in Irvine, Calif. IASG, based in Albany, N.Y., acquired the assets of NACC from Tyco in October.
The acquired accounts are 88 percent residential, 12 percent commercial and are mostly located in Arizona and Idaho.
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