iVerify, one of the largest dedicated video monitoring centers in the country, services national retailers, financial institutions and public utilities. It operates its National Video Monitoring Center from Charlotte, North Carolina.

"The combination of closing a growth capital round and the acquisition of Smart, positions iVerify as the industry leader in the interactive video monitoring business. iVerify, has emerged as the leading provider of guard replacement services through interactive video and audio monitoring," says Mike May, president and CEO of iVerify.

"iVerify has established itself with national companies that have diverse security needs. They rely on us to deliver an emerging suite of security solutions that are less costly than guard services and highly effective when compared to conventional burglar alarms. The company has also gained the support of law enforcement agencies across the country as it uses interactive video to dispatch law enforcement to crimes in progress. iVerify virtually eliminates the false alarm problem that has plagued the security industry for years, restoring the confidence of law enforcement with their private security partners," continues May.

"Magal did an outstanding job of building a high quality video monitoring operation at Smart, delivering services that are closely aligned with iVerify's offerings in similar industry segments. The integration of the Smart and iVerify operations delivers scale and efficiency to iVerify which results in continued improvements to the bottom line," says May.

"We will continue to execute our strategic plan of organic growth coupled with the acquisition of complimentary businesses. This capital round positions the company to execute on plan and drive further growth as we build our interactive video service offering" says Mark Simson, CFO, iVerify.