SAFE Security, San Ramon, Calif., acquired approximately 11,000 security alarm monitoring subscriber accounts representing $500,000 of recurring monthly revenue (RMR) from Utah-based Pinnacle Security. The vintage accounts created between 2008 and 2010 are similar to the 24,000 accounts acquired by SAFE from Pinnacle in early February.
“This completes Phase II of the Pinnacle account transaction, and when added to the prior close last month brings the total amount acquired from Pinnacle to about $1.6 million of RMR,” said Paul Sargenti, SAFE’s president and chief executive officer who founded the company in 1988. “This is a great addition to SAFE’s existing portfolio and we look forward to providing the highest standard in security services to these new subscribers.”