Chicago-based Baby Bell, Ameritech, has acquired the security monitoring assets of Canadian Cross-Global Alarms for an undisclosed sum, and said it is on the look out for European acquisitions.
Ameritech?s director of international affairs, Dennis LaComb, told UK journalists it is negotiating with several European security monitoring firms worth up to $500 million each. It is looking at acquiring firms in Germany, France, Scandinavia and the UK.
Security monitoring involves linking home alarm systems to police stations via telephone lines. Ameritech is the second biggest security monitoring company in the US and aims to lead the European market. It currently serves 400,000 residential and commercial customers in the US and Canada. The assets from Cross-Global Alarms include customer contracts for both residential and commercial monitoring accounts.
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