Brinks Home Security Announces Bulk Acquisition of Residential Alarm Monitoring Contracts
Monitronics International Inc. and its subsidiaries (doing business as Brinks Home Security) announced that it has acquired approximately 114,000 residential alarm monitoring contracts from Protect America Inc. totaling approximately $4.6 million in recurring monthly revenue.
Per the terms of the transaction, Brinks Home Security will take ownership of the alarm monitoring contracts at closing through an earnout structure that includes a $15 million upfront payment. For the first six months following the closing date the company will pay a $5 monthly earnout payment per active account. For the remaining 44 months immediately following the initial earnout period, the company will pay the seller a $25 monthly earnout payment per active account.