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Alarm.com Acquires CHeKT, a Leader in Proactive Video Monitoring Solutions

1. Alarm.com acquires CHeKT, enhancing remote video monitoring solutions. 2. CHeKT's platform offers subscription-based RVM services for proactive security. 3. Acquisition strengthens Alarm.com's presence in the professional video monitoring market. 4. CHeKT will operate independently while integrating with Alarm.com's systems. 5. Collaborations with existing partners expected to expand service capabilities.

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FAQ

Why Bullish?

The acquisition increases Alarm.com's market position and service offerings, likely boosting revenue. Previous acquisitions have led to stock price increases in the tech sector.

How important is it?

The acquisition directly correlates with expanding Alarm.com's capabilities in video security. M&A activities typically signal growth potential and increased market share.

Why Long Term?

The integration of CHeKT’s solutions will take time to affect profits significantly. Historically, long-term gains follow successful strategic acquisitions.

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CHeKT
TYSONS, Va.--(BUSINESS WIRE)--Alarm.com (Nasdaq: ALRM), the leading platform for the intelligently connected property, today announced a majority-stake acquisition of CHeKT, a leading cloud platform for remote video monitoring (RVM) services. CHeKT’s enterprise-ready platform includes subscription-based RVM services that enable central stations and service providers to deliver high-value, proactive, crime-stopping solutions to commercial and residential subscribers. CHeKT has cultivated a robust partner base, and the acquisition strengthens Alarm.com’s market opportunity in the emerging professional video monitoring space. CHeKT’s intuitive control room operator interface enables proactive video verification and response capabilities, allowing central station operators to evaluate video alarm events quickly and accurately. CHeKT’s RVM solution is already embedded into many central stations and offers compatibility with many different video camera brands and other security products. CHeKT will continue to operate independently, and the Alarm.com video solution and the OpenEye enterprise video solution will be fully integrated into CHeKT’s control room software. With the addition of CHeKT, Alarm.com’s service provider partners can deliver an RVM solution to protect any property type. “CHeKT is a pioneer and a leader in the RVM space,” said Jeff Bedell, Alarm.com’s President of Ventures Business and Corporate Strategy. “CHeKT’s deep industry experience has allowed them to design a comprehensive product that fits in seamlessly with monitoring station workflows. Their technology has attracted an impressive roster of partners, and we look forward to building on that momentum with the CHeKT team.” “We’re excited to take CHeKT to the next level with Alarm.com,” said Wes Usie, President and Founder of CHeKT. “We built the CHeKT platform to help professional security providers deliver a unique and crucial video security solution to their customers. No company delivers on that vision as comprehensively as Alarm.com, making it an ideal outcome for CHeKT to continue to evolve and expand our solutions with them.” Financial terms were not disclosed. About Alarm.com Alarm.com is the leading platform for the intelligently connected property. Millions of consumers and businesses depend on Alarm.com's technology to manage and control their property from anywhere. Our platform integrates with a growing variety of Internet of Things (IoT) devices through our apps and interfaces. Our security, video, access control, intelligent automation, energy management, and wellness solutions are available through our network of thousands of professional service providers in North America and around the globe. Alarm.com's common stock is traded on Nasdaq under the ticker symbol ALRM. For more information, please visit alarm.com. About CHeKT CHeKT products and solutions enable alarm and security companies to provide real-time video to monitoring centers, giving dispatch agents immediate access to video evidence of what triggered the alarm.

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