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 | Increase $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 | edit source]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
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External links
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