Alarm.com, a provider of wireless and Web-enabled security and monitoring technology for residential and commercial customers, announced a group of investors led by ABS Capital in partnership with Alarm.com's CEO have completed the acquisition of all interests in Alarm.com held by its prior majority owner, MicroStrategy. ABS Capital Partners is a leading later-stage growth company investor. Egis Capital, a private equity firm focused on the security and homeland defense industries also participated in the acquisition. Ralph Terkowitz and Bobby Goswami, General Partners at ABS Capital, and Robert Chefitz, a Partner at Egis, will join Steve Trundle, CEO of Alarm.com, on the company's board of directors as a result of the transaction.
"We are very pleased to complete this initiative in a challenging economic environment, and extremely satisfied with the quality of the new capital partners we are bringing into the Alarm.com business," said Trundle. "Alarm.com is now in an optimal position to ensure that our security industry partners and customers will continue to have the most advanced and cost effective security and monitoring technology solutions."
Alarm.com provides wireless and Web-enabled security system technology to residential and commercial customers across the United States and Canada. In 2003, Alarm.com was the first company to launch an all-digital wireless signaling solution with remote PDA and Web-based monitoring and always-on activity reporting.
Unlike most security systems, Alarm.com is wireless and does not require a phone line or Internet connection to communicate signals to the monitoring center. Alarm.com has redefined security monitoring services by enabling sophisticated interactive custom-threat alerting and remote control capabilities via e-mail, voice, PDA and Web interfaces, all of which significantly increase the value proposition offered by a traditional security system.