M2M Services, a provider of universal alarm panel communicators, connectivity and interactive services, has merged with smart security and IoT company Alula.
The combined entity will operate under the name M2M Services and will be led by Peter Tzvetkov, CEO of M2M Services. Dave Mayne, President of Alula, will lead North America operations and oversee global sales and marketing. Gregg Waldon, CFO of Alula, will manage financial operations for the combined business. The company will have US headquarters in St. Paul, Minn., and global headquarters in Sofia, Bulgaria.
“This merger represents a strategic move to position ourselves as the premier market leader in the smart security industry,” said Tzvetkov in a statement. “We are excited about the future and the offerings we’ll provide to both our current and prospective customers, making available unmatched security solutions that provide peace of mind and seamless control over the connected environments they create and monitor.”
Mayne added, “The merger with M2M opens up new horizons for Alula as we combine our expertise to set new benchmarks for quality, engineering and innovative security offerings. Together, we are committed to empowering our customers with advanced technologies that redefine the way they protect what matters most. As a combined business, over 1.25 million rooftops will be actively using our service platform to protect their properties and add convenience to the lives of those residing and working there. We are committed to continued innovation around the connected security market.”
With an expanded product portfolio, the new business will offer a range of smart security solutions that encompass hardware, services, and cloud-based technologies. The companies will also pool their R&D resources which will “accelerate the pace of innovation, creating new technologies that drive the industry forward and enhance the overall user experience,” according to the companies.
M2M Services was founded in Bulgaria in 2008 and entered the U.S. market in 2016.
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