IASG Purchases Minnesota Alarm Contracts
Integrated Alarm Services Group Inc. (IASG) says it will acquire about 9,600 residential alarm contracts in Minnesota, which generate about $235,000 in recurring monthly revenue (RMR). The contracts are being acquired from the Minnesota natural gas operating subsidiary of CenterPoint Energy. The purchase price for the alarm contracts is about $7.8 million and represents a purchase multiple of 33 times RMR. Consideration for the Minnesota account acquisition comes from IASG cash balances.
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