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Brinks Home Security Announces Bulk Acquisition of Residential and Commercial Alarm Monitoring Contracts
Transaction Further Validates Low Cost Earn Out Structure, Largely Mitigating Attrition Risk
DALLAS-FORT WORTH, Texas, Dec. 24, 2020 (GLOBE NEWSWIRE) Monitronics International, Inc. and its subsidiaries (doing business as Brinks Home Security®), (“Brinks Home Security” or the “Company”) (OTC: SCTY) today announced that it has acquired approximately 30,000 residential and small business and 8,000 large commercial alarm monitoring contracts from Select Security (the “seller”) totaling approximately $2.0 million in recurring monthly revenue (“RMR”). Brinks Home Security will take ownership of the alarm monitoring contracts through an earn out structure that includes a $10 million upfront payment and a 50-month earn out period (“Earn Out Period”). ....

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