N.Y. company in big Vegas deal

Wednesday, Nov. 26, 2003 | 11:14 a.m.

Integrated Alarm Services Group Inc. of Albany, N.Y., has purchased about 12,000 alarm monitoring contracts, mostly in Las Vegas, from an undisclosed seller.

The company paid $10.4 million for the contracts, which generate about $360,000 a month in revenue, IASG said in a statement. The contracts will be managed from service centers in California, Minnesota and New Jersey, said Joseph Reinhart, a spokesman for the company. IASG has no Las Vegas-area employees, he said.

IASG currently manages security contracts for about 5,000 independent alarm and security system dealers nationwide.

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