Physical Security Firm Acquires Its Way Into IT Managed Services

Vector Security, Inc., a provider of physical security solutions for homes and businesses, is moving into the managed IT infrastructure and business intelligence space by acquiring Industry Retail Group, Inc. (IRG), a provider of customized managed network services to retailers. Financial terms of the deal were not disclosed.

Both companies said the acquisition will provide a groundwork for business intelligence offerings, along with an expansion of services to provide turnkey solutions for retailers and multi-site businesses.

Vector Security President and CEO Pam Petrow, who will assume leadership responsibility for both companies, said in her prepared statement that customers are looking to leverage existing broadband networks for more services.

"Customers want broader insight and intelligence into their operations at all levels," he said. "This acquisition is the catalyst for us to define that new market segment and positions us to support the physical security and broadband infrastructure needs of our customers today and into the future."

Vector Security said it will continue to market the new managed network services solutions under the Industry Retail Group brand as a Vector Security company. Vector Security has also retained all of the IRG employees as part of the acquisition.

IT merger and acquisition (M&A) advisory firm Cogent Growth Partners, LLC said in a statement that it advised Vector Security through the deal.