NEW YORK, July 15, 2013 -- On July 10, Monitronics International, Inc. (“Monitronics”), a subsidiary of Ascent Capital Group Inc. (“Ascent”), signed a definitive agreement to acquire Security Networks, LLC (“Security Networks”), resulting in a leading home security solutions provider with greater scale, an expanded footprint and enhanced growth prospects.
The transaction consideration will consist of $487.5 million of cash and 253,333 newly issued shares of Ascent Series A common stock with an agreed value of $20 million. The purchase price is subject to adjustment at closing and is based upon Security Networks delivering recurring monthly revenue of $8.8 million.
Baker Botts represented Monitronics in the matter.
For more information, Ascent’s news release is available here.
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