ABS Capital Partners Teams With Alarm.com CEO; attracted to security industry's leading Wireless and Web-Enabled Technology Provider
McLean, VA - February 17, 2009 - Alarm.com, the leading provider
of wireless and web-enabled security and monitoring technology for residential and
commercial customers, announced today that a group of investors led by ABS Capital in partnership with Alarm.com's CEO have completed the acquisition
of all interests in Alarm.com held by its prior majority owner, MicroStrategy. ABS
Capital Partners is a leading later-stage growth company investor. Egis Capital, a leading private equity firm focused on the security and
homeland defense industries also participated in the acquisition. Ralph Terkowitz
and Bobby Goswami, General Partners at ABS Capital, and Robert Chefitz, a Partner
at Egis, will join Steve Trundle, CEO of Alarm.com, on the Company's board of directors
as a result of the transaction.
"We are very pleased to complete this initiative in a challenging economic environment,
and extremely satisfied with the quality of the new capital partners we are bringing
into the Alarm.com business. Alarm.com is now in an optimal position to ensure that
our security industry partners and customers will continue to have the most advanced
and cost effective security and monitoring technology solutions," said Trundle.
Alarm.com provides wireless and web-enabled security
system technology to residential and commercial customers across the U.S.A. and
Canada. In 2003, Alarm.com was the first company to launch an all-digital wireless
signaling solution with remote PDA and web-based monitoring and always-on activity
reporting, and today remains the leader in the space that it defined.
Unlike most security systems, Alarm.com is wireless and doesn't require a phone
line or Internet connection to communicate signals to the monitoring center. Alarm.com
has redefined security monitoring services by enabling sophisticated interactive
custom-threat alerting and remote control capabilities via email, voice, PDA and
web interfaces, all of which significantly increase the value proposition offered
by a traditional security system.
"With traditional alarm systems, customers might only receive calls from the monitoring
station when the alarm goes off and in most cases, the call is for a false alarm.
With our Dealers and partners, Alarm.com gives customers the ability to know if
their housekeeper went into the medicine cabinet, if they left their garage door
open when they went to work, if their children got home late from school, if their
'dog walker' never showed up, if their store employee opened the store late, and
virtually anything else that they choose to define as important to them," Trundle
explained.
"We have known Alarm.com and have been impressed by its solid growth and marketplace
recognition," said Ralph Terkowitz, General Partner at ABS Capital Partners. "The
firm's wireless approach enables Alarm.com to address the rapidly increasing number
of homes which no longer use land-based analog phone lines, while their remote interactive
services improve the security system's fundamental value proposition."
About Alarm.com
Alarm.com Incorporated provides wireless and web-enabled security and activity monitoring
technology to residential and commercial customers throughout the United States
and Canada. Alarm.com's Operations Center processes over 25 Million security events
every month, reported by Alarm.com systems that are used to monitor and protect
houses, vacation properties, apartments, professional offices, restaurants, retail
chains, model homes, boats, trailers, data centers, and more. Alarm.com-enabled
security systems are offered through a network of over 800 licensed Security Dealers.
Alarm.com technology is compatible with GE Security equipment and has been tested
by ETL to comply with UL 985, UL 1023, and UL 1635 (ULC S545 and ULC 1023 in Canada)
for residential security installations. The company is headquartered in McLean,
VA, a suburb of Washington, DC.
About ABS Capital Partners
Founded in 1990, ABS Capital Partners has established a strong track record for
investing in later-stage growth companies. With $1.5 billion under management, ABS
Capital helps companies choose the growth initiatives that build the greatest long-term
value. ABS Capital has partnered with numerous portfolio companies to achieve successful
outcomes, including over 40 initial public offerings and acquisitions by market
leaders like CBS Corporation, EMC Corporation, LabCorp and Pitney Bowes Inc. For
more information, please visit www.abscapital.com.
Contact:
Alarm.com:
Mary Knebel
703-714-1234
mknebel@alarm.com
ABS Capital Partners:
Stephanie Carter
410-246-5609
SManuel@ABSCapital.com