Acquired by the Competition
Tyco International, Ltd., the same company that owns ADT, bought Brinks Home Security with plans to merge the two home security giants into one. The reason for the buyout was financial:
“Broadview’s strong presence in the North American security market … will enhance ADT’s financial performance and support our long-term growth in this large, fragmented and highly competitive industry,” said Ed Breen, Chief Executive for Tyco.
Just how "enhanced" is that financial performance? Brinks Home Security was sold for $2 billion, netting Tyco International an additional $565 million in annual revenue.
The merger, completed in 2009, provided Tyco, a Switzerland-based company, with 30 percent of the market share of residential monitored security systems. However, this is not the extent of Tyco’s business ventures.
Tyco International, Ltd. provides security in multiple markets:
- Oil and gas
Is It Brinks or Broadview?
The Brink’s name, although trusted for generations, was changed multiple times throughout the company’s long and eventful history, with the latest change resulting from the rebranding effort of "Broadview Security" in 2009.
Originally founded in 1859, The Brink’s City Express was the name Perry Brink used for his delivery company. He employed a horse-drawn wagon to securely deliver luggage from Chicago trains to hotels for weary passengers concerned for the safety of their personal items.
In 1934, after navigating the Great Depression with uncommon success, the name changed from Brink’s City Express to become Brink’s Incorporated, to commemorate 75 years in business. Between 1934 and 2002, the company weathered many changes, including several robberies, the loss of several key members, and the sale of company-owned interests.
Finally, in 2009, Brink’s separated its home security division from the rest of the company, requiring a rebranding effort that familiarized potential clients with the new name of Broadview Security. According to Forbes, the price for the new name ran between $70 million to $120 million.
Monitored or Unmonitored?
The monitored system is provided by a professional company that monitors for multiple areas of concern (break-in, fire, medical emergency) while the unmonitored system leaves the main burden of security to the homeowner or renter.
Monitored systems provide professional 24-hour monitoring that will automatically contact emergency services for the homeowner in the event of a burglary, a fire, or a medical emergency. Unmonitored systems provide homeowners with remote access to the home but leave the burden of monitoring for an emergency with the homeowner or renter. Since emergency response times depend on the homeowner’s/renter’s reaction time, emergency responses may be slower, leading to damage or loss a professional company may have been able to avoid.
Monitored systems can also provide financial benefits such as discounts on homeowner’s or renter’s insurance while unmonitored systems do not provide little (if any) financial benefit.
The home security industries do well for one simple fact: people need the benefits of monitored home systems to help protect loved ones and valuables while they are away.
Looking for a reliable monitored home security system? The benefits of monitored systems over those of unmonitored systems can be invaluable in the event of an emergency. Contact Protect America to get a free quote.