Alarm.com Buys CHeKT For Undisclosed Sum

(RTTNews) - Alarm.com Holdings, Inc. (ALRM), Tuesday announced a majority-stake acquisition of Louisiana-based CHeKT, a cloud platform for remote video monitoring services. The financial terms of acquisition were not disclosed.

With this transaction, the company aims to strengthen its market position in the emerging professional video monitoring space.

The company added that its video solution and the OpenEye enterprise video solution will be fully integrated into CHeKT's control room software, enhancing the security services.

In the pre-market hours, Alarm.com's stock is trading at $61.35, down 1.84 percent on the Nasdaq.