A Garden City-based security firm has purchased a company specializing in electronic security systems such as biometrics.
World Wide Security on Monday announced its acquisition of CCTV Security Ltd. of the Long Island City area. The July 17 deal is expected to bring World Wide's annual revenues to more than $10 million, a company spokeswoman said. Details on the purchase price were not disclosed.
In business since 1979, World Wide offers intrusion detection, fire and smoke alarm systems and monitoring to more than 18,000 commercial, residential, industrial, educational, and institutional customers, including more than 100 Central Parking locations in New York City, the firm's spokeswoman said. SDM Magazine ranked World Wide Security as one of the 100 largest security companies in the United States, with $7 million in revenue in 2012.
CCTV, which was founded more than 40 years ago, provides "perimeter, biometrics, barrier, camera and access control systems for foreign governments, museums, galleries, parking facilities, offices, hotels and high-rise apartment buildings," according to a news release by World Wide. CCTV also offers a medical-alarm pendant called the Life Button 24, according to World Wide.
CCTV's "client base is comprised of blue chip corporations that will now be able to purchase additional security services that were not available through CCTV Security such as intrusion detection, fire and smoke alarm systems and monitoring," Kenneth Mara, World Wide's president and chief executive, said in a statement.
All nine CCTV employees have been offered positions with World Wide, including Wyn Grant, CCTV's founding owner. World Wide Security, which had a staff of 60 before the purchase, plans further acquisitions, both locally and nationally, according to the firm.