DALLAS – Ascent Capital Group said in its latest quarterly earnings report that its subsidiary Monitronics Int’l acquired LiveWatch Security, a provider of DIY interactive and home automation services for approximately $67 million.
Headquartered in Evanston, Ill., LiveWatch will operate as a standalone subsidiary of Monitronics, based here. Founded in 2002, LiveWatch services more 32,000 accounts nationwide and has more than $900,000 of recurring monthly revenue (RMR).
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Ascent Chairman and CEO Bill Fitzgerald said the acquisition will help Monitronics to continue expanding its service offerings and distribution channels.
“This acquisition will allow Monitronics to diversify its service offerings with entry into the developing and complementary DIY home service category,” he said. “In addition to bringing an additional 32,000 customer accounts to the Monitronics platform, it will also provide a very robust production engine that is expected to continue generating a high volume of new accounts and RMR.”
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Among its fourth-quarter results, Ascent reported Monitronics’ adjusted EBITDA for the three and 12 months ended Dec. 31, 2014, increased 3.4% and 18.7%, respectively. Monitronics’ RMR increased 3.1% to $44.1 million. The company’s average RMR per subscriber increased 1.8% to $41.64.
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