Cincinnati, Ohio (July 13, 2011) – Cincinnati Bell Inc. (NYSE: CBB) today announced the signing of a definitive agreement to sell its Complete Protection security monitoring business to Guardian Alarm Company. Cincinnati Bell will continue to offer Complete Protection services through a marketing agreement with Guardian.
“Guardian Alarm Company is a world-class operator of security monitoring services and able to provide customers with access to a broader range of programs and options,” said Ted Torbeck, president and general manager of Cincinnati Bell Communications. “Since launching Complete Protection in 2001, our goal has been to deliver high-quality home security monitoring services with superior customer service and value and we are confident these high standards will continue under Guardian’s ownership.”
A leading provider of alarm system management services, Guardian Alarm Company is the largest privately held security company in the United States. Founded in 1930, it has more than 100,000 security monitoring customers, 850 employees and operations in five Midwestern states and Canada. Guardian’s fully redundant central monitoring station is Underwriters Laboratories (UL) Certified, Factory Mutual Approved and Homeland Security Rated.
According to Gary Wojtaszek, chief financial officer of Cincinnati Bell, the transaction is a continuation of shareholder-friendly initiatives and demonstrates the company’s ability to sell a non-core asset at a significant premium to current stock price multiples. “We believe that partnering with Guardian, who has extensive security monitoring experience, will benefit customers as well as shareholders and enhance overall customer satisfaction,” said Wojtaszek.
Complete Protection customers who have questions about their service can call Cincinnati Bell at 513-565-5494.
About Cincinnati Bell Inc.
With headquarters in Cincinnati, Ohio, Cincinnati Bell (NYSE: CBB) provides integrated communications solutions—including local, long distance, data, Internet, entertainment and wireless services—that keep residential and business customers in Greater Cincinnati and Dayton connected with each other and with the world. In addition, Cincinnati Bell provides best-in-class data center colocation services to enterprise customers in the Midwest and Texas with fully redundant power and cooling solutions. Complementing the colocation products, Cincinnati Bell also offers complex information technology solutions such as managed services and technology staffing. For more information, visit www.cincinnatibell.com.
About Guardian Alarm Company
Guardian Alarm is North America's largest privately owned security company. For more than 80 years, Guardian Alarm has kept families safe and offered the most comprehensive and advanced commercial grade security systems in the industry. For more information, visit www.guardianalarm.com.