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Business

Security company buys a rival

In its fourth acquisition this year of a Long Island security company, Garden City-based World Wide Security has bought a rival company, based in East Meadow.

The acquisition of Rainbow Home Systems Inc. will help it expand throughout Long Island and the tri-state region, World Wide’s owner, Ken Mara, said in a prepared statement.

Rainbow Home Systems Inc. specializes in high-end, new construction security installations, he said.

"World Wide Security has admired Rainbow's ability to service niche markets on Long Island over the past 30 years," Mara said.

The purchase increases World Wide's share of security, life safety, alarm monitoring and security communications markets. World Wide did not say how much it paid for Rainbow.
World Wide, a Honeywell and First Alert dealer, this year also bought the Long Island-based companies Digital Surveillance and Security, Inc., True Value Alarms and Alarm Security Inc.

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