Sean Finegan, Vice President, Business Development, for Safeguard Products and Services Group, stated, "We are very excited about this new vertical for our Acquient division. Landing this project enters us into a new market with significant impact to our overall revenue stream." Finegan added, "Many of these institutions are 501(c)(3) organizations, listed as charter schools, providing a tuition-free, public education alternative, and have a dire need for electronic security surveillance and access control systems."
R. Michael Lagow, Safeguard's CEO, stated, "The need for security in our school systems, both public and private (schools), is essential. Not only the Columbine incident remains on our minds, but most recently, another student was shot and wounded on the Cape Fear campus in North Carolina, and video surveillance tapes helped identify the shooters, thus the need for security systems!" Lagow added, "With the addition of these ten school campuses, we now have a cornerstone to work from and we expect to increase our reoccurring monitoring revenue greater than $750K annual beginning this fiscal year. We see this trend continuing for the foreseeable future, growing our subscription based monitoring services significantly over the next few years."
About Safeguard: (www.safeguardsecurityholdings.com)
Safeguard is a fully integrated sole-source security solutions provider offering a converged suite of physical and electronic services through its operating subsidiaries. It provides corporate, government and residential clients with a broad array of security services ranging from highly trained armed and unarmed guards, security management staffing, and security staff outsourcing, to installation and maintenance of integrated electronic security solutions, background investigations, video monitoring, and specialized consulting services as may be required to support the varying security needs of its clients. The Company is organized along three distinct lines of business - Technical Systems, Security Personnel and Security Outsourcing Solutions. All operations are directed from its offices in Dallas, Texas and house the following business subsidiaries: Acquient Security Consulting, Inc., Acquient Systems Technologies, Premier Background Search, Inc. (PBS), Safeguard Armor, Safeguard Background Checks, Safeguard Products and Services Group, SGI Protective Services, SEARCHglobal, Inc., Secure Concepts International, Inc., SYSTEMSgroup, Inc., The SYSTEMSgroup Academy, SYSTEMSgroup Protective Services, SYSTEMSgroup Technologies and SYSTEMSgroup Global.
Forward-Looking Statements:
Statements which are not historical facts contained in this release are forward-looking statements, such as "immediately accretive" that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.
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