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Monitronics set to acquire Security Networks in the next month
Wow! What a surprise! I had no idea this was in the works. Did you? Just when Security Networks was starting to become known they are no longer. I wonder what former Moni dealers that turned Security Networks Dealers will think about this.
An email was sent out today to Moni and Security Networks Dealers saying this.
We are pleased to announce that Monitronics has reached an agreement to acquire Security Networks, a full service, dealer-based alarm monitoring company providing security monitoring and related services to homeowners and businesses in the United States. We have an expected closing date of mid August, 2013. The Company will be headquartered in Dallas, Texas with Mike Haislip serving as CEO. The rest of the Monitronics leadership team as well as the Dealer Operations Group will remain in their current roles. The combined companies will serve over one million customers and have the largest affiliate/dealer network in the country with nearly 600 dealers. We feel this move positions us well to compete with many of the large new competitors entering the industry.
Since both companies go to market through a network of dealers, you can rest assured that we won’t lose sight of what is important – you. It is our continuing commitment to provide our dealers with the best products and support that are available in the industry today. We will be hosting a conference call today at 5:15 pm EST to discuss the transaction. To access the call please dial (888) 462-5915 in the United States or (760) 666-3831 from outside the U.S. The conference I.D. number is 15759530. We ask that you dial in five to ten minutes prior to the start of the call. We will be spending the next few weeks speaking with our current dealers as well as our new dealers regarding the transition to one company.
Let’s move on to what we are sure is on your mind, “How does this deal affect me?” The answer is unequivocally, “It doesn’t.” You will be paid the same multiples on the same schedule as always. All of the terms and conditions of your deal with Monitronics will remain in effect. Also, nothing changes operationally and all of the current Monitronics team members will remain intact. Our goal over time is to incorporate the best operating practices of both companies into one dealer-focused, smooth-running operation.
In the meantime, rest assured that your current Monitronics deal is not changing and that we are working hard to make sure there are no operating changes that cause you issues or concerns.
You can email any questions to us at dealerquestions@monitronics.com. We will collect FAQs throughout the coming weeks and place updates on the dealer portal every Friday. If you are unable to dial in for the conference call, you can access a reply of the call by dialing (800) 585-8367 in the United States or (404) 537-3406 from outside the U.S. The conference I.D. number is 15759530.
More consolidation in the alarm industry. This will affect many Utah Security Networks and Monitronics Dealers. We will have to see what their take on this is and post it here soon.
One Utah SN dealer said, “I am not surprised that SN sold but I am very surprised they sold to Moni. If I wanted to be a Moni dealer I could have been. (and I was one 3 years ago).”
Do not miss the Largest Utah Security Event of the Year – Utah Alarm Association Annual Conference Aug 22 and 23. There are still spaces for vendors and alarm companies but they are filling up fast. Go here to register.