Teletouch Communications, a provider of wireless messaging, telemetry services, cellular and two-way radio communications services in Alabama, Arkansas, Georgia, Florida, Louisiana, Mississippi, Missouri, Oklahoma, Tennessee and Texas, has executed letters of intent contemplating the purchase of the home and commercial security alarm businesses owned and operated by the Progressive Concepts Communications, Inc. (PCCI) group of companies. The proposed acquisitions are to include the acquisition of the assets of the Hawk Security Services division of Progressive Concepts, Inc., a subsidiary of PCCI, and the acquisition of all outstanding equity securities of State Hawk Security, Inc., a special purpose entity that acquires security alarm monitoring agreements on a leveraged basis.
The company also announced that Thomas A. "Kip" Hyde, Jr., the president of State Hawk, has been appointed CEO of Teletouch. Kernan Crotty, current president and COO, will continue in those capacities.
"As with Teletouch's current operations, the security business is built on technology services that generate recurring monthly revenue that can be internally grown to a significant scale,' said Hyde, 'and there are numerous acquisition targets for alarm companies and complementary security technologies. The key to this combination will be leveraging Teletouch's existing corporate infrastructure, customer base, telemetry products and two-way radio operations to expand Hawk's presence throughout Teletouch's current ten state markets and beyond."