N.Y. company in big Vegas deal

Integrated Alarm Services Group Inc. of Albany, N.Y., has purchased about 12,000 alarm monitoring contracts, mostly in Las Vegas, from an undisclosed seller.

The company paid $10.4 million for the contracts, which generate about $360,000 a month in revenue, IASG said in a statement. The contracts will be managed from service centers in California, Minnesota and New Jersey, said Joseph Reinhart, a spokesman for the company. IASG has no Las Vegas-area employees, he said.

IASG currently manages security contracts for about 5,000 independent alarm and security system dealers nationwide.

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