Alarm.com buys out its owners for $27.7 million
Web-based security firm Alarm.com said today it has completed a $27.7 million management buyout of the company’s majority owner, MicroStrategy.
The buyout was led by ABS Capital Partners, a late-stage growth investor, with participation from Alarm.com management and the private equity firm Egis Capital. The cash deal closed Feb. 13.
Alarm.com’s technology lets consumers and businesses receive alerts via email, text message, or voice mail from alarm triggers at their homes or businesses. The alerts can tell you if your liquor cabinet has been opened or the basement is flooded, for example. The company has 150,000 customers and its products are available from 800 North American dealers.
The company recently launched a remote video monitoring solution that sends alerts to a mobile phone. Some people might find that creepy. But others are bound to monitor it the way they do Twitter.
The Tysons Corner, Va.-based company was founded in 2000 as a research and development project inside MicroStrategy. It launched its first web-based security product in 2003. It has 30 employees.
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About the Author, Dean Takahashi
Dean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat.