Security Sales & Integration February 2022 - 8

INDUSTRY PULSE NEWS
Security 101 Acquired
by Investment Group
Gemspring Capital
▶ WEST PALM BEACH, Fla. - A majority
interest in Security 101 has been acquired
by an affiliate of Gemspring Capital Management
for undisclosed terms. Based in
Westport, Conn., Gemspring Capital is a
middle market private equity firm with
$1.5 billion of capital under management
focused on companies in the business
services, industrial services, distribution
and logistics, healthcare services,
financial & insurance services, specialty
manufacturing, media and software
industries.
Security 101 is a provider of commercial
security system solutions and differentiates
itself from its competitors through a
franchising business model. The company
has more than 50 locations in the continental
U.S. and is now poised to develop
a local presence within markets where
growth potential exists, according to an
announcement.
Security 101's management team, led
by founder and CEO Steve Crespo, will
continue to lead the business and be significant
shareholders in the company.
" We are excited to partner with Gemspring
during this next phase of growth
and look forward to collaboratively pursuing
the tremendous market opportunity
ahead of us, " says Crespo. " This partnership
puts Security 101 in a position to rapidly
expand our footprint while continuing
building. This will lead to secure, real-time
machine learning-driven solutions, thereby
working to solve the challenges of decarbonization,
sustainability, energy efficiency
and indoor air quality, according to an
announcement.
" Value is increasingly being created by
applying intelligence at the edge-device
level to create real-time, secure, actionable
insights, " says Johnson Controls CTO
Vijay Sankaran. " By pervasively integrating
Foghorn's world-class Edge AI throughout
our OpenBlue solution portfolio, we are
accelerating the pace towards our vision
of smart, autonomous buildings that continuously
learn, adapt and automatically
respond to the needs of the environment
and people. "
Security 101 Founder and CEO Steve
Crespo will continue to lead the
business and be a significant
shareholder in the company.
to provide national and local customers
the security industry's finest customer
service through our proven approach. "
Michael Walton, president at Security
101, adds, " Today's client demands an attention
to detail that includes an extensive
knowledge of the product and a personalized
approach to sales and service - each
of which Security 101 has developed a positive
reputation for providing on a consistent
basis. You can only achieve this with
the highest quality teams and our success
has always been directly connected to our
company culture and the people who have
created it. "
DMP Employees Have
Raised $112M for
Nonprofits Since 2019
▶ SPRINGFIELD, Mo. - Among the employees
of
Digital Monitoring
Products
(DMP), generosity is important - so much
so that it's one of the company's core values.
It has also been DMP's motivating
force behind Project100, launched in 2019
with the goal to give away $100 million in
time and money to nonprofit organizations
by the end of 2025.
To that end, CEO and President Rick Britton,
an SSI Industry Hall of Famer, recently
announced that Project100 was not only
achieved but surpassed. A full four years
early, DMP employees collectively have given
more than $112 million in donations and
more than 10,000 hours of volunteer time to
nonprofit organizations.
In a tearful, heartfelt message during an
Johnson Controls Acquires Edge
AI Software Maker FogHorn
▶ CORK, Ireland - Johnson Controls has
acquired FogHorn, a developer of Edge
AI software, to strengthen its OpenBlue
solution for smart and autonomous
buildings. Terms of the transaction were
not disclosed.
FogHorn's edge AI stack is designed
for industrial and commercial IoT devices
8
enabling them to operate securely with
restricted Cloud connectivity. Its integration
with OpenBlue will help serve AI to smart
building endpoints. Foghorn's team will roll
up into the OpenBlue development unit
following the acquisition, while its CTO,
Sastry Malladi, was named OpenBlue's AI
vice president.
Foghorn's Edge AI platform will also add
intelligence to the source of data inside the
Security Sales & Integration FEBRUARY 2022
all-company meeting in December, Britton
expressed his gratitude saying, " I want to
thank all the employees of DMP for their
dedication and hard work throughout this
project. Every bit of the money that we are
able to donate comes in some form from
your labor. We can't do it without everyone
contributing; we appreciate every single
minute of hard work and effort. "
As a part of the announcement and
celebration, Britton surprised the group
with a $5,000 bonus for each of the 364
employees.
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Security Sales & Integration February 2022

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