A Utah company that provides electronic monitoring services has completed its purchase of Midwest Monitoring & Surveillance Inc. of Fairmont.
SecureAlert Inc. of Sandy, Utah, said Wednesday it completed its acquisition of the remaining 47 percent of Midwest Monitoring's stock. In December 2007 and April 2010, SecureAlert acquired 53 percent of the outstanding capital stock of Midwest Monitoring, with the option to purchase the remaining shares from sellers Gary Bengtson, Gary Shelton, Larry Gardner and Sue Gardner, according to a securities filing.
As consideration for the remaining shares, SecureAlert agreed to pay approximately $2.5 million in cash payments and restricted shares of stock, the filing states.
SecureAlert provides "intervention technologies" to observe and track offenders in their car, home or office.
Janet Moore • 612-673-7752
