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SOURCE Securus Technologies, Inc.
DALLAS, Dec. 20, 2013 /PRNewswire/ -- Securus Technologies, Inc., a leading provider of inmate communications services, investigative technologies, and corrections/law enforcement/emergency information technology services announced today the acquisition of Satellite Tracking of People (STOP), LLC headquartered in Houston, Texas. STOP is the leading provider of active global positioning systems (GPS) based offender monitoring devices in the United States.
Securus Technologies will finance the acquisition with new debt issued as incremental facilities under the existing loan documentation and new equity. The incremental debt financing has been arranged and placed by Deutsche Bank. The acquisition closed earlier today, December 20, 2013.
"We are excited to be working with the STOP team to continue to build our bundled high-tech set of products to the corrections and enforcement sectors," said Richard A. "Rick" Smith, CEO and President of Securus Technologies. "Their proprietary technology and monitoring devices are a good complement to the sophisticated products that we supply and extends our reach into the parole and direct supervision segments of the corrections sector. We have diversified our offering from core outbound audio calling to include video visitation, 'big data' analysis, jail management IT systems, emergency dispatch, court monitoring, business intelligence, and now very sophisticated GPS offender monitoring devices – a valuable broad product set for all our customers."
"Securus Technologies and STOP represents an excellent combination for our present and future customers and our employees as well," said Steve Logan, Chief Executive Officer of STOP, LLC. "Securus will allow us to continue to develop our products and leading technology and combine our efforts with the largest combined sales team in the corrections and parole detection segments. We will take full advantage of the thousands of quality contacts and relationships that Securus has established to get our products distributed much more broadly – and in many instances bundled with the Securus product set. It will be hard not to choose the Securus and STOP combined products – representing the best technologies and customer service available."
Securus Technologies, Inc. is one of the largest providers of detainee communications and information management solutions, serving approximately 2,300 correctional facilities in 45 states, the District of Columbia, Canada, and Mexico, and more than 900,000 inmates nationwide. A recognized leader in providing comprehensive, innovative technical solutions and responsive customer service, Securus' sole focus is the specialized needs of the corrections and law enforcement communities. Securus is headquartered in Dallas, Texas, including four regional offices in the Dallas metro area as well as one in Atlanta, Georgia. For more information please visit the Securus website at www.securustech.net.
About STOP, LLC
STOP, LLC, founded in 2004, is headquartered in Houston, Texas and is the largest provider of active GPS based offender monitoring devices and services in the United States. STOP has over 400 customers in 42 States and the District of Columbia, and also operates in Canada. For more information, please visit the STOP website at www.stopllc.com.
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