Monitronics International, Inc. - Brinks Home
FormerlyMONI Smart Security, SafeMart, LiveWatch
TypePublic
OTCQX: SCTY
IndustryHome security services
Founded1994
HeadquartersDallas, Texas
Key people
William E. Niles (CEO from March 2020)[1]
RevenueIncrease $505 Million(2019)[2]
Number of employees
1,200
Websitewww.brinkshome.com

Monitronics International, Inc. is an American security company that offers home security systems under the name Brink's Home.

History

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 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

  1. ↑ "DI People: Cinemark, Brinks Home Security, Medical City Children's Make Leadership Announcements". Dallas Innovates. D Magazine. 3 March 2020. Retrieved 6 April 2020.
  2. ↑ "Monitronics Revenue 2017-2020 | SCTY | MacroTrends".
  3. ↑ Romano, Jay (April 1, 2007). "Security Systems: Your Eyes and Ears". The New York Times.
  4. ↑ "Ascent Media Corporation Acquires Monitronics". The Wall Street Journal. Dec 17, 2010. Retrieved March 15, 2011.
  5. 1 2 3 4 Pletz, John (March 24, 2015). "Industry giant buys Evanston home security firm for $67 million". Crain's Chicago Business.
  6. ↑ Bosch, Rodney (31 July 2013). "Analysts Are Bullish on Monitronics' $507M Deal for Security Networks". www.securitysales.com. Retrieved 2016-07-18.
  7. ↑ Hendershot, Steve (April 16, 2013). "An Orbitz for Home Security". Crain's Chicago Business.
  8. ↑ "Monitronics changes its name". www.securitysystemsnews.com. Archived from the original on 2016-10-03. Retrieved 2021-03-04.
  9. 1 2 Bosch, Rodney (28 February 2018). "MONI CEO on Bringing Brinks Branding Back". Security Sales & Integration.
  10. ↑ "BRIEF-Brink's Announces Brand Licensing Agreement With Moni Smart..." Reuters. February 26, 2018.
  11. ↑ "Firm behind Brinks Home Security files voluntary bankruptcy to restructure debt". Dallas News. July 1, 2019. Retrieved April 30, 2023.
  12. ↑ "Brinks Home Security Announces Bulk Acquisition of Residential Alarm Monitoring Contracts". Brinks Home Security. Retrieved 2021-04-11.
  13. ↑ "Monitronics files for bankruptcy again ahead of 2024 maturities". Bloomberg Law. May 15, 2023. Retrieved May 15, 2023.
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