Cincinnati Bell Inc. (ticker: CBB, exchange: New York Stock Exchange (.N))
News Release -
Cincinnati Bell to Sell Complete Protection(TM) Security Monitoring
Business to Guardian Alarm Company
CINCINNATI, Jul 13, 2011 (BUSINESS WIRE) --
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 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 one of the largest privately held security companies 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 one of North America's largest privately owned
security companies. 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.
SOURCE: Cincinnati Bell Inc.
For Cincinnati Bell
Lisa McLaughlin, 513-368-1860