IASG Selling Off Portions of Its Business
ALBANY, N.Y. – Integrated Alarm Services Group Inc. (IASG) is selling some of its assets to Mountain Acquisition Co. LLC for the sum of $7.3 million. The purchase price for assets consisting of alarm contracts totaled $7.1 million. This represents a recurring monthly revenue (RMR) purchase multiple of 34.7.
The purchase agreement calls for Mountain Acquisition to pay cash plus a $6.5 million promissory note, due Dec. 31, along with 12-percent interest on principle.
Integrated Alarm is selling specific alarm contracts in Colorado, Idaho and Utah with recurring monthly revenue of $212,200 and other assets totaling $224,000, which includes inventory, vehicles and monetary deposits. The assets were to be sold because they are in service areas that do not fit with the firm’s desired profile.
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