Monitronics
| Formerly | MONI Smart Security, SafeMart, LiveWatch |
|---|---|
| Company type | Public |
| OTCQX: SCTY | |
| Industry | Home security services |
| Founded | 1994 |
| Headquarters | Dallas, Texas |
Key people | William E. Niles (CEO from March 2020)[1] |
| Revenue |  $505 Million(2019)[2] |
Number of employees | 1,200 |
| Website | www |
Monitronics International, Inc. is an American security company that offers home security systems under the name Brink's Home.
History
[edit]Monitronics International was founded in Dallas in 1994 to provide alarm monitoring services to U.S. customers and businesses, as well as financing, technical training and product solutions[clarification needed] to dealers within the industry.[3] It was funded mostly by ABRY Partners until it was sold to Ascent Media in December 2010.[4] As of 2015, it was the second largest security alarm monitoring company in the United States, behind ADT.[5]
In 2013, MONI purchased Security Networks, a network of about 225 security dealers, for $507 million to diversify its service offerings and enter into the developing and complementary DIY home service category.[6]
In 2015, Monitronics acquired LiveWatch, a Kansas-based company that sold security alarm and home automation systems for DIY installation.[5] The company was founded in 2002 under the name Safemart by Chris Johnson, a former Kansas paramedic. Initially, SafeMart distributed home security products from third-party manufacturers. In 2010, Johnson hired CEO Brad Morehead.[7] By 2015, the company had grown to have 180 employees and had around 200,000 customers in the United States, and was acquired by Monitronics for $67 million.[5]
In 2016, Monitronics International changed its name to Moni; along with it, its logo and other style elements were changed.[8]
In 2018, Brinks re-entered the home security business through a trademark licensing deal, re-creating the "Brinks Home Security" brand.[9][10]
The trademark deal was done with Moni, a US private company headquartered in Farmers Branch, Texas that sells home security company systems that can be self-installed or professionally installed.[5]
In February 2018, Moni exclusively licensed its trademarks and businesses to Brinks, which resulted in a rebranding of Moni and LiveWatch as Brinks Home Security.[9]
In 2019, Monitronics filed for Chapter 11 bankruptcy.[11]
In June 2020, Moni acquired Protect America for $15 million in upfront costs.[12]
On May 15, 2023, Monitronics filed for Chapter 11 bankruptcy for the second time in four years.[13]
References
[edit]- ^ "DI People: Cinemark, Brinks Home Security, Medical City Children's Make Leadership Announcements". Dallas Innovates. D Magazine. 3 March 2020. Retrieved 6 April 2020.
- ^ "Monitronics Revenue 2017-2020 | SCTY | MacroTrends".
- ^ Romano, Jay (April 1, 2007). "Security Systems: Your Eyes and Ears". The New York Times.
- ^ "Ascent Media Corporation Acquires Monitronics". The Wall Street Journal. Dec 17, 2010. Retrieved March 15, 2011.
- ^ a b c d Pletz, John (March 24, 2015). "Industry giant buys Evanston home security firm for $67 million". Crain's Chicago Business.
- ^ Bosch, Rodney (31 July 2013). "Analysts Are Bullish on Monitronics' $507M Deal for Security Networks". www.securitysales.com. Retrieved 2016-07-18.
- ^ Hendershot, Steve (April 16, 2013). "An Orbitz for Home Security". Crain's Chicago Business.
- ^ "Monitronics changes its name". www.securitysystemsnews.com. Archived from the original on 2016-10-03. Retrieved 2021-03-04.
- ^ a b Bosch, Rodney (28 February 2018). "MONI CEO on Bringing Brinks Branding Back". Security Sales & Integration.
- ^ "BRIEF-Brink's Announces Brand Licensing Agreement With Moni Smart..." Reuters. February 26, 2018.
- ^ "Firm behind Brinks Home Security files voluntary bankruptcy to restructure debt". Dallas News. July 1, 2019. Retrieved April 30, 2023.
- ^ "Brinks Home Security Announces Bulk Acquisition of Residential Alarm Monitoring Contracts". Brinks Home Security. Retrieved 2021-04-11.
- ^ "Monitronics files for bankruptcy again ahead of 2024 maturities". Bloomberg Law. May 15, 2023. Retrieved May 15, 2023.