IASG Acquires Minnesota Alarm Contracts - Expanding Alarm Portfolio
October 02 2006 - 9:00AM
Business Wire
Integrated Alarm Services Group, Inc. (Nasdaq: IASG) today
announced the acquisition of approximately 9,600 alarm contracts
generating approximately $235,000 in recurring monthly revenues
(RMR). The residential alarm contracts are located in Minnesota and
are being acquired from the Minnesota natural gas operating
subsidiary of CenterPoint Energy. The alarm contracts have been
monitored and serviced by IASG�s South St. Paul, Minnesota central
station since 1998 and they will continue to be monitored at this
site. The purchase price for the alarm contracts is approximately
$7.8 million and represents a purchase multiple of 33.0 times RMR.
Consideration for the Minnesota account acquisition comes from IASG
cash balances. In announcing the acquisition, Charles May,
President and CEO of IASG said, �We are pleased to be adding these
contracts to the IASG alarm portfolio. Having monitored the
portfolio for some time we are quite familiar with the
characteristics of the CenterPoint accounts. These Minnesota
accounts fit our portfolio criteria very well and have excellent
geographic concentration. Account concentration is important to
achieve both high customer service levels and operational
efficiency.� May continued, �In recent months we have made good
progress in integrating several important operations and past
business and account acquisitions. This progress allows IASG to
resume account acquisition activity and positions the Company to
resume growth.� Andrea Newman, Vice President, Retail Services of
CenterPoint Energy said, �A major consideration for us was that the
buyer has a local monitoring and customer service presence. IASG
has been our authorized provider of monitoring and service for
several years. Our customers are our top priority and we know they
meet our high standards for quality and excellence. IASG represents
the best fit for both CenterPoint Energy and for our customers.�
About IASG Integrated Alarm Services Group provides total
integrated solutions to independent security alarm dealers located
throughout the United States to assist them in serving the
residential and commercial security alarm market. IASG�s services
include alarm contract financing including the purchase of dealer
alarm contracts for its own portfolio and providing loans to
dealers collateralized by alarm contracts. IASG, with approximately
5,000 independent dealer relationships, is also the largest
wholesale provider of alarm contract monitoring and servicing. For
more information about IASG please visit our web site at
http://www.iasg.us. About CenterPoint Energy CenterPoint Energy,
Inc., headquartered in Houston, Texas, is a domestic energy
delivery company that includes electric transmission &
distribution, natural gas distribution, competitive natural gas
sales and services, and pipeline and field services operations. The
company serves more than five million metered customers primarily
in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and
Texas. Assets total approximately $16 billion. With about 9,000
employees, CenterPoint Energy and its predecessor companies have
been in business for more than 130 years. In Minnesota, CenterPoint
Energy is the state�s largest natural gas distribution company,
serving more than 778,000 residential, commercial and industrial
customers in 240 communities. Home Service Plus�, the company�s
non-regulated business in Minnesota, offers products and services
in the categories of heating, ventilation, and air conditioning
(HVAC) and appliance repair, and HVAC and hearth equipment sales.
For more information, visit the Web site at
www.CenterPointEnergy.com. This press release may contain
statements, which are not historical facts and are considered
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements contain projections of IASG�s future results of
operations, financial position or state other forward-looking
information. In some cases you can identify these statements by
forward looking words such as �anticipate�, �believe�, �could�,
�estimate�, �expect�, �intend�, �may�, �should�, �will�, and
�would� or similar words. You should not rely on forward-looking
statements because IASG�s actual results may differ materially from
those indicated by these forward looking statements as a result of
a number of important factors. These factors include, but are not
limited to: general economic and business conditions; our business
strategy for expanding our presence in our industry; anticipated
trends in our financial condition and results of operation; the
impact of competition and technology change; existing and
regulations effecting our company and business, and other risks and
uncertainties discussed under the heading �Risks Related to our
Business� in IASG�s Form 10-K report for the period ending December
31, 2005 as filed with the Securities and Exchange Commission on
March 16, 2006, and other reports IASG files from time to time with
the Securities and Exchange Commission. IASG does not intend to and
undertakes no duty to update the information contained in this
press release. Integrated Alarm Services Group, Inc. (Nasdaq: IASG)
today announced the acquisition of approximately 9,600 alarm
contracts generating approximately $235,000 in recurring monthly
revenues (RMR). The residential alarm contracts are located in
Minnesota and are being acquired from the Minnesota natural gas
operating subsidiary of CenterPoint Energy. The alarm contracts
have been monitored and serviced by IASG's South St. Paul,
Minnesota central station since 1998 and they will continue to be
monitored at this site. The purchase price for the alarm contracts
is approximately $7.8 million and represents a purchase multiple of
33.0 times RMR. Consideration for the Minnesota account acquisition
comes from IASG cash balances. In announcing the acquisition,
Charles May, President and CEO of IASG said, "We are pleased to be
adding these contracts to the IASG alarm portfolio. Having
monitored the portfolio for some time we are quite familiar with
the characteristics of the CenterPoint accounts. These Minnesota
accounts fit our portfolio criteria very well and have excellent
geographic concentration. Account concentration is important to
achieve both high customer service levels and operational
efficiency." May continued, "In recent months we have made good
progress in integrating several important operations and past
business and account acquisitions. This progress allows IASG to
resume account acquisition activity and positions the Company to
resume growth." Andrea Newman, Vice President, Retail Services of
CenterPoint Energy said, "A major consideration for us was that the
buyer has a local monitoring and customer service presence. IASG
has been our authorized provider of monitoring and service for
several years. Our customers are our top priority and we know they
meet our high standards for quality and excellence. IASG represents
the best fit for both CenterPoint Energy and for our customers."
About IASG Integrated Alarm Services Group provides total
integrated solutions to independent security alarm dealers located
throughout the United States to assist them in serving the
residential and commercial security alarm market. IASG's services
include alarm contract financing including the purchase of dealer
alarm contracts for its own portfolio and providing loans to
dealers collateralized by alarm contracts. IASG, with approximately
5,000 independent dealer relationships, is also the largest
wholesale provider of alarm contract monitoring and servicing. For
more information about IASG please visit our web site at
http://www.iasg.us. About CenterPoint Energy CenterPoint Energy,
Inc., headquartered in Houston, Texas, is a domestic energy
delivery company that includes electric transmission &
distribution, natural gas distribution, competitive natural gas
sales and services, and pipeline and field services operations. The
company serves more than five million metered customers primarily
in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and
Texas. Assets total approximately $16 billion. With about 9,000
employees, CenterPoint Energy and its predecessor companies have
been in business for more than 130 years. In Minnesota, CenterPoint
Energy is the state's largest natural gas distribution company,
serving more than 778,000 residential, commercial and industrial
customers in 240 communities. Home Service Plus(R), the company's
non-regulated business in Minnesota, offers products and services
in the categories of heating, ventilation, and air conditioning
(HVAC) and appliance repair, and HVAC and hearth equipment sales.
For more information, visit the Web site at
www.CenterPointEnergy.com. This press release may contain
statements, which are not historical facts and are considered
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements contain projections of IASG's future results of
operations, financial position or state other forward-looking
information. In some cases you can identify these statements by
forward looking words such as "anticipate", "believe", "could",
"estimate", "expect", "intend", "may", "should", "will", and
"would" or similar words. You should not rely on forward-looking
statements because IASG's actual results may differ materially from
those indicated by these forward looking statements as a result of
a number of important factors. These factors include, but are not
limited to: general economic and business conditions; our business
strategy for expanding our presence in our industry; anticipated
trends in our financial condition and results of operation; the
impact of competition and technology change; existing and
regulations effecting our company and business, and other risks and
uncertainties discussed under the heading "Risks Related to our
Business" in IASG's Form 10-K report for the period ending December
31, 2005 as filed with the Securities and Exchange Commission on
March 16, 2006, and other reports IASG files from time to time with
the Securities and Exchange Commission. IASG does not intend to and
undertakes no duty to update the information contained in this
press release.
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