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Stanley Works Announces Acquisition of Sonitrol Corp. for $275 Million
By Laura Stepanek, Editor
The Stanley Works (NYSE: SWK) announced that it has entered into an agreement to purchase 100 percent of the shares of Sonitrol Corp. from an ownership group comprised of Carlyle Venture Partners, Wachovia Capital Partners and Spire Capital Partners as well as selected members of Sonitrol management for $275 million cash (approximately 10x EBITDA).
Sonitrol, headquartered in Berwyn, Pa., provides security monitoring services, access control and fire detection systems to commercial customers in North America via two monitoring centers and a national multi-channel distribution network.
Sonitrol, ranked No. 8 on the 2008 SDM 100 report of the largest security dealers in the United States, brings a strong brand, unparalleled capabilities in audio-verified monitoring and a substantial national account base to Stanley's Convergent Security Solutions platform. Sonitrol, with revenue totaling approximately $110 million will report into Stanley's Convergent Security Solutions business which had 2007 revenues approaching $600 million. Sonitrol reported to SDM it had $5.7 million in monthly recurring revenue at Dec. 31, 2007.
The boards of directors of Stanley and Sonitrol have approved the transaction, which is subject to regulatory approvals and other customary conditions. The acquisition is expected to close during the third quarter of 2008.
In a separate transaction, the company also announced that it entered into an agreement to sell its CST/berger laser leveling and measuring business, based in West Lafayette, Ind., to Robert Bosch Tool Corp. for $205 million.
John F. Lundgren, chairman and chief executive officer, commented: "These two transactions are important steps toward advancing our growth strategy and repositioning the company to be less dependent on construction and DIY markets. We continue to be strongly committed to shifting the company's portfolio into higher-growth, higher-return areas such as electronic security. The addition of Sonitrol, with its iconic brand and strong franchisee and direct sales network, expands the scale of our existing North American monitoring operation, increases our recurring revenue and adds breadth and depth to our electronic security product offering."
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SDM-TV Is on Home Page
SDM has launched SDM-TV on www.sdmmag.com sponsored by ADT through June 30. SDM-TV features industry experts and thought leaders including Dave Engebretson, Les Gold, Dan Dunkel, Charles Aulner and others who will present tips, advice, ideas and answer questions for SDM
readers.
Sponsored by ADT, the world leader in electronic security solutions, SDM-TV features important information for security installing companies including: testing networks using the ping command; how to program an IP camera, video recorder or DVR onto a LAN; solving common IP device connectivity problems; managing security transformation; partnering for success; and leveraging security convergence.
Plus, we encourage you to submit your business and legal questions to us at sdmtv@bnpmedia.com and Les Gold will answer them on SDM-TV! |
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ESX Offers Education and Inspiration
for Your Success
At
Electronic Security Expo 2008, you'll get the information you need to maximize revenue, profits and company value and be inspired by the achievers and leaders in our industry. Don't miss this fantastic opportunity to learn from the best! The conference, being held at the
Nashville, Tennessee Convention Center, runs Wednesday, June 25 through Friday, June 27, and the expo is open June 26 and 27. Co-owners and co-sponsors
CSAA and NBFAA will be holding meetings in conjunction with ESX beginning Monday, June 23. Early-bird
registration discounts are available until May 30.
The ESX
education program addresses the industry's most vital topics through a series of seminars, workshops and special presentations. Industry leaders and peers will
inspire and motivate you as we recognize accomplishments from the past year - and the past 60 years! The expo
floor will feature 150 exhibitors, special-interest pavilions and free exhibitor-offered training. |
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Apply Now to Be Ranked Among SDM's Top Systems Integrators
Are you a systems integrator company that earned more than $2 million in total revenue in 2007? If so, your firm could qualify to be ranked among the largest integrators in the U.S., in SDM's 2008 Top Systems Integrators Report. The report, which ranks the top integrators based on their total revenues, will be published in July 2008. Applications are now available. If you haven't received yours, contact the editor, Laura Stepanek, by phone or e-mail, to request an application. Tele. (630) 694-4027; e-mail stepanekl@bnpmedia.com.
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NEWS
Northrop Grumman Partners With DHS Technologies on $240 Million Contract for High Mobility Command Posts
Military contracting companies Northrop Grumman Corporation and Rockland County, NY based DHS Technologies have recently been awarded a $240 million contract to provide medium and large, high-mobility tactical operations centers that can be rapidly deployed for command, control and communications on the battlefield.
Read the full story.
| Axis Communications: Axis is Opening Sales Offices and More Network Video Products Were Installed in Moscow's Metro |
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Axis Communications (STO:AXIS) today announced that the company is opening a new sales office in Russia (Moscow). There is great interest in network video in the region and by establishing a local office, Axis strengthens its presence on a market with development potential. In connection to this, the company also announces that the installation in Moscow Metro today comprises more than 3 000 Axis network video products and has potential for further installations.
Diebold Wins Award for Advanced Skimming Detection Technology; Innovative technology reduces ATM fraud by sensing skimming devices
Diebold, Incorporated(NYSE:DBD), a trusted partner and leader in the financial self-service industry, recently announced it received The Banker Technology Awards 2008 Retail Award for Delivery Channel Security for its leading-edge ATM advanced skimming detection technology.
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The New RMR Paradigm
When it comes to technology, security systems integrators specializing in video surveillance and access control often are very sophisticated. Yet the economics of their business model often are surprisingly unsophisticated.
Why RMR matters.
Feature Sets that Sell
Selling today's feature-rich access control systems can become a guessing game for systems integrators. What will get the end user's attention? What will make their eyes glaze over?
What they're looking for.
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| SDM
1050 IL Route 83, Suite 200
Bensenville, IL 60106-1096
U.S.A. |
Tel: (630) 616-0200
Fax: (630) 227-0214 |
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| Copyright © 2008 by BNP Media. All Rights Reserved |
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