Key Developments For Mace Security International Inc
Mace Security International Inc (MACE.O) (Consolidated Issue listed on NASDAQ Global Market)
Mace Security International, Inc. Partners With Xanboo, Inc.
Mace Security International, Inc. announced that it has partnered with Xanboo, Inc., allowing its nationwide network of Mace Security Products' and Central Station Monitoring dealers the capability to install and integrate security devices utilizing Xanboo's patented technology. Mace Security Products has been appointed as a nationwide distributor of Xanboo hardware and Mace CSSS, Inc. can offer its monitoring customers the added service of video and alarm monitoring utilizing the remote Xanboo web portal and platform.
Mace Security International, Inc. Closes on Acquisition of Central Station Security Systems, Inc
Mace Security International, Inc. announced that it has closed on the acquisition of Central Station Security Systems, Inc. (CSSS), a wholesale security monitoring company. This new acquisition will be part of a new division, Mace Security Services. The purchase price was approximately $3.6 million consisting of $1.7 million in cash at closing, potential additional payments up to $1.4 million upon the settlement of certain contingencies as per the Stock Purchase Agreement and the assumption of approximately $500,000 of liabilities.
Mace Security International, Inc. Signs Definitive Purchase Agreement To Acquire Central Station Security Systems, Inc.
Mace Security International, Inc. announced that it has signed a definitive purchase agreement to acquire Central Station Security Systems, Inc. (CSSS), a wholesale security monitoring company. Mace anticipates that it will consummate the transaction within 30 days. The definitive purchase agreement is subject to customary closing conditions.
Mace Security International, Inc. Announces Car Wash Sale
Mace Security International, Inc. announced that it has entered into an agreement to sell its car wash in Austin, Texas for $3.2 million. With the entry into this recent agreement, all three of the Company's car washes in the Austin, Texas market are now under agreement to sell. The book value of this car wash is approximately $2.6 million. The sale price is $3.2 million, and after customary closing costs, Mace expects to net approximately $3,025,000 in cash from the sale, before payment of debt. The debt of $2.5 million associated with this car wash is expected to be paid from the proceeds of the previously announced sale of two car washes in Austin, Texas. This transaction is conditioned upon the buyer being satisfied with a Phase 2 environmental study that will be conducted on the site. The buyer has 60 days from the agreement`s execution to conduct the Phase 2 study. The transaction is required to be closed thirty days after the buyer has obtained the satisfactory Phase 2 environmental study. No assurances can be given the transaction will be consummated.
Mace Security International, Inc. Signs Letter of Intent to Acquire a Wholesale Security Monitoring Company
Mace Security International, Inc. announced that it signed a letter of intent to acquire a wholesale security monitoring company. Mace anticipates that it will sign a definitive purchase agreement within 30 days, and plans to consummate the transaction within 30 days after signing the definitive purchase agreement. The wholesale monitoring company has a UL-listed monitoring center that maintains over 30,000 accounts. Mace will not disclose the name of the company until the definitive purchase agreement is signed. The letter of intent is subject to customary closing conditions. Although there can be no assurance that this acquisition will ultimately close, the Company is optimistic that the conditions will be satisfied.
