Masada Security Holdings
Masada Security Holdings (formerly Masada Security) is a provider and servicer of monitored home security systems. It was founded by Terry Johnson and Daryl Harms in 1988 and had offices in Suite 800 of the Medical Forum Building at 950 22nd Street North. The company was named in reference to the plateau overlooking the Judean desert where, according to Josephus, a group of Jewish zealots committed mass suicide rather than submit to capture and enslavement by Roman soldiers in 73 CE.
In 1993 with a number of outside investors, Johnson incorporated the company in Delaware as Masada Security Inc. alongside a Masada Security Limited Partnership, which acquired the business from the older company, along with the security alarm business of rival Network Security of Dallas, Texas. Harms stepped down from his executive role, but remained on the board of directors for the new company. In February 1994 the company was restructured again, with Masada Security Inc. made a wholly-owned subsidiary of Masada Security Holdings. At that time, Centennial Security entered into a licensing contract with Masada to market systems and services under its "Safe Choice" brand name.
In September 1996 the company filed to recapitalize and convert much of its outstanding preferred stock to common stock. At that time the company reported having 873 employees, and approximately 78,000 subscribers to its security monitoring services. Through its "Safe Choice" marketing efforts, it offered to provide and install home security equipment (manufactured by C. K. Systems Inc.) at a subsidized cost ($99 for the base system) when tied to a 3 to 5-year monitoring contract at $25 per month. Ninety percent of its customers at that time were located in Florida, with most of the others in the Washington D.C. metropolitan area. The company's "central monitoring station" in Birmingham was said to be capable of serving up to 250,000 subscribers.
References
- Masada Security Holdings Inc. (October 4, 1996) "S-1 Registration Statement Under The Securities Act Of 1933". Securities and Exchange Commission