Join our daily newsletter At The Bell to receive exclusive market insights
- Threat Protect (TPS) has purchased two security monitoring client bases in Australia for almost $2 million
- The two client bases in Western Australia and Queensland have a long history of service under Threat Protect and are main users of wireless technology
- It is expected that Threat Protect’s recurring monitoring revenue should increase by $600,000 per year
- The company continues to chase similar opportunities to further increase recurring revenue
- Threat Protect’s share price is steady today with shares trading for 14.5 cents apiece
Threat Protect (TPS) has purchased two security monitoring client bases in Australia for $1.9 million.
The two client bases in Western Australia and Queensland have a long history of service by Threat Protect and are predominant users of wireless technology.
The conversion of reseller serviced lines to direct lines will deliver additional uplift in revenue for no extra operating cost.
It is expected that recurring contracted monitoring revenue should increase by approximately $600,000 per year.
Both Securex and Chris Jones Security Services, the client bases that got bought, will continue to provide maintenance services to its client bases.
Established in 2008, Securex is West Australian security company that currently has 1167 wireless monitored alarm customers.
Chris Jones Security is a Queensland security company based out of Hervey Bay which was established in 2004. It currently has 509 monitored alarm customers.
The $1.9 million purchase pricetag will be funded by existing cash following the recently completed equity raising.
This acquisition strategy continues to add value to Threat Protect’s business and the company is continuing to identify other similar opportunities to further increase recurring revenue.
Market updates will be provided as these proposed transactions progress.
“The acquisition of existing Threat Protect reseller client bases is a core growth strategy of the business, resulting in the addition of recurring monitoring revenue for no additional operating cost,” Threat Protect Managing Director Demetrios Pynes commented.
Threat Protect’s share price is steady today with shares trading for 14.5 cents apiece.
