IASG Completes Acquisition of Lane Security Inc.
PSI installs, services, and monitors commercial and residential alarm contracts in Arizona, California, and New Mexico. PSI ranked 14th in the 2003 SDM 100. Total recurring monthly revenue acquired will be approximately $1.77 million, representing the equivalent of 59,000 alarm contracts. PSI also generates approximately $550,000 per month of revenue, primarily associated with commercial installation, maintenance, and related service and inspection activities.
Total consideration paid for the acquisition is $46 million.