Honeywell Security Monitoring has bought all of the alarm monitoring accounts held by Sylvester's Security Alarms of Santa Maria, Calif.
Honeywell Security Monitoring has announced that it will keep the local office and many Sylvester's employees, but will move all of the alarm monitoring accounts (both residential and commercial) to service by its own facilities.
According to Timothy Whall, the president and COO of Honeywell Security Monitoring, the acquisition of Sylvester's helps "open a new market" for the company.
Neither the number of accounts nor financial terms of the transaction were made public, but the purchase is expected to mean a notable territory gain for the company, which already serves some 175,000 customers.
Independent Security Consultants helped facilitate the purchase between the companies.
