Surveillance solutions manufacturer Mace Security announced Tuesday that it has signed a definitive agreement to acquire Orange County California-based Central Station Security Services, Inc.
According to Mace CEO Dennis Raefield, the monitoring company earns nearly $3 million in annual revenue and should bring about 360 additional dealers under the Mace umbrella.
He added that the acquisition is part of the company’s revenue growth plans and that CSSS will give Mace’s sales force a new product to offer dealers and also provide the company with a recurring monthly revenue stream.
“This is quite an exciting move and an additional step in our strategy of rebuilding the security division from where it was,” Raefield said in a conference call.
Terms of the deal have not yet been disclosed.