SAI ABSORBS KING CENTRAL, MONITAL AND WILL COMBINE WITH SECURITYVILLAGE.COM FOR WEB-BASED SERVICES
King Central and Monital Signal Corp. have agreed to merge into Security Associates Intl. (SAI), which, in turn, intends to combine with SecurityVillage.com to form North America’s fourth-largest security event monitoring company, with service to nearly 800,000 customers. As a result of these transactions, SecurityVillage.com will be able to access more than 90 percent of U.S. households and deliver interactive home and business services through this network of independent security companies. SecurityVillage.com will leverage the leading positions of SAI, King Central and Monital in traditional services with its world-class Internet and electronic technologies and will have in excess of $60 million in annual pro-forma revenue for the combined companies. SecurityVillage.com and SAI intend to extend this business model on a global basis.
SecurityVillage.com will provide Web-based, interactive security services, enabling consumers to communicate interactively with their traditional security service providers, and will initially offer value-added features such as video-over-the-Internet, telelocating and telemedical services. “With today’s announcement, SecurityVillage.com will become a strong Internet and technology company with wide-reaching installation and service capabilities. It is the realization of a vision to deliver new technologies developed in Israel to a very wide market,” says Moshe Cohen, chairman and co-founder of SecurityVillage.com.
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