Garden City, New York (PRWEB) November 22, 2010
World Wide Security, a provider of physical security and life safety systems, today announced the acquisition of Rainbow Home Systems Inc., East Meadow, N.Y., a physical security company specializing in high-end, new construction security installations. The acquisition will enhance the service offerings to residential and commercial customers through expanded product lines. “World Wide Security has admired Rainbow’s ability to service niche markets on Long Island over the past 30 years. We are thrilled to join forces with Rainbow to create a strong security company with innovative ideas in order to serve the changing needs of consumers in the tri-state area,” Ken Mara, President and owner of World Wide Security commented.
“A partnership between Rainbow and World Wide, through this acquisition, will improve accessibility to services Rainbow did not have before,” Lenny Minervini, President of Rainbow Home Systems, stated. Rainbow customers will now benefit from round-the-clock service and 24/7 alarm monitoring by World Wide’s UL-listed central station. In essence, Rainbow clients will have their needs met more readily through World Wide’s corporate infrastructure and will now experience the same level of service as World Wide customers. “I look forward to having Lenny’s expertise in new construction and customized installations as part of our team,” Mara offered. Minervini is the past president of the Long Island Alarm Association and a member of the Long Island Builder’s Institute.
The purchase of Rainbow Home Systems Inc., further increases World Wide Security’s share in the security, life safety, alarm monitoring and communications solutions market. The acquisition was led by Mark Simson, CFO, World Wide Security, “We believe this acquisition is inline with the strategic vision of increasing our regional concentration.”
As a Honeywell and First Alert dealer, World Wide is known for its ability to provide security solutions through integrated products. Part of World Wide’s strategy to penetrate emerging markets includes the recent product launch of its in-house technology, iVision24 which involved the engineering of a self-contained, wireless, portable, two way-audio and video verification product.
Other services include providing alarm monitoring through its UL-listed central station at its headquarters in Garden City. “With recent debt refinancing, World Wide is in a very strong position to expand our market reach and look for additional acquisitions,” Simson stated.
Rainbow Home Systems was an asset purchase as was World Wide’s other acquisitions this year which included other Long Island based security companies: Digital Surveillance and Security, Inc., True Value Alarms and Alarm Security Inc.
About World Wide Security: Partners in business since1979, Kenneth Mara, President and Joe Ingegno, Vice President have owned and operated security companies on Long Island serving the tri-state area including: World Wide Security, GC Alarm, Telestat Security, Vision Monitoring and Rainbow Home Systems. The company provides residential and commercial alarm, CCTV, access control and home automation systems. World Wide operates its own UL-listed central station through Vision Monitoring and is approved to monitor fire alarms in New York City; very few companies are certified to meet the stringent standards set by the City of New York.