Alarm.com Acquires Majority Stake in CHeKT, Enhancing Remote Video Monitoring Capabilities.

Alarm.com has acquired a majority stake in CHeKT, a cloud platform for remote video monitoring services. The acquisition strengthens Alarm.com's remote video monitoring offering. CHeKT's platform includes subscription-based services that enable central stations and service providers to deliver proactive, crime-stopping solutions to commercial and residential subscribers. Financial terms were not disclosed.

Alarm.com (Nasdaq: ALRM), a leading platform for the intelligently connected property, has recently announced the acquisition of a majority stake in CHeKT, a cloud platform for remote video monitoring (RVM) services [1]. This strategic move strengthens Alarm.com's position in the professional video monitoring space, enhancing its offerings for commercial and residential subscribers.

CHeKT, an enterprise-ready RVM platform, has cultivated a robust partner base and offers subscription-based services that enable central stations and service providers to deliver proactive, high-value solutions to their clients [1]. The acquisition bolsters Alarm.com's market opportunity and broadens its reach in the emerging professional video monitoring market.

CHeKT's platform includes an intuitive control room operator interface that allows for proactive video verification and response capabilities, enabling central station operators to evaluate video alarm events quickly and accurately [1]. The RVM solution is already embedded into many central stations and is compatible with various video camera brands and other security products.

With the addition of CHeKT, Alarm.com's service provider partners can now deliver an RVM solution to protect any property type, further enhancing the company's comprehensive offering.

CHeKT, a pioneer and leader in the RVM space, has attracted an impressive roster of partners due to its deep industry experience and comprehensive product design [1]. The company's technology fits seamlessly into monitoring station workflows, making it an ideal acquisition for Alarm.com.

"CHeKT is a pioneer and a leader in the RVM space," said Jeff Bedell, Alarm.com's President of Ventures Business and Corporate Strategy. "Their deep industry experience has allowed them to design a comprehensive product that fits in seamlessly with monitoring station workflows. Their technology has attracted an impressive roster of partners, and we look forward to building on that momentum with the CHeKT team."

"We're excited to take CHeKT to the next level with Alarm.com," said Wes Usie, President and Founder of CHeKT. "We built the CHeKT platform to help professional security providers deliver a unique and crucial video security solution to their customers. No company delivers on that vision as comprehensively as Alarm.com, making it an ideal outcome for CHeKT to continue to evolve and expand our solutions with them."

Financial terms of the acquisition were not disclosed.

References:
[1] MarketScreener. (2023, March 13). Alarm.com Acquires CHeKT, a Leader in Proactive Video Monitoring Solutions. https://www.marketscreener.com/quote/stock/ALARM-COM-HOLDINGS-INC-22619561/news/Alarm-com-Acquires-CHeKT-a-Leader-in-Proactive-Video-Monitoring-Solutions-49019437/