SAN RAMON, CA -- February 6, 2013 -- SAFE Security® announced today that it has acquired approximately 24,000 security alarm monitoring subscriber accounts representing $1.1 million of Recurring Monthly Revenue (RMR) from Utah-based Pinnacle Security. Over 90% of the vintage accounts created between 2008 and 2010 use Alarm.com communications services.
“This is an exciting and important addition to SAFE’s portfolio.” said Paul Sargenti, SAFE’s President and CEO who founded the company in 1988. “The transaction fits very nicely into our national footprint. The acquisition, in conjunction with SAFE’s robust dealer program, provides cash flow to optimize and execute SAFE’s growth strategy.”
Sargenti adds, “We have worked diligently to build the infrastructure to assimilate and service these accounts and future acquisitions.” Last year SAFE moved its UL Approved central station, SAFE Monitoring Technologies, to corporate offices in San Ramon, improving operating efficiencies and allowing for a greater capacity for growth. The move also involved an upgrade to monitoring and subscriber management software and enhancement of monitoring hardware. SAFE continues to maintain the highest standard in business systems software and communications technology in the industry.