UPDATED: Telstra buys controlling stake in SNP Security for monitored security venture

UPDATED: Telstra buys controlling stake in SNP Security for monitored security venture

TelstraSNP Monitoring to focus on SMBs and residential customers

Telstra has acquired a controlling stake in Australian security firm, SNP Security, as part of its goal to establish a platform in the monitored security sector.

The telecommunications provider did not reveal the value of the agreement or the percentage of its ownership.

Despite its majority position, Telstra is marketing the agreement as a joint venture from an operational perspective. The business unit is named TelstraSNP Monitoring (TSM) and will provide monitored security to small to medium businesses (SMBs) and residential customers.

Telstra Business Group managing director, Will Irving, told ARN the telecommunications provider pursued SNP as it saw an opportunity to migrate customers using PSTN-based back-to-based alarms onto IP. It also recognised a series of new applications for monitoring.

"Whereas traditional back-to-base alarms have been very much security-focused, the ability now to have a whole range of different sensors and then to run Cloud analytics on top really creates a whole range of new opportunities," Irving said.

"This is particularly the case for businesses, but more and more for consumers and connected homes as well, whether that's measuring a car, temperature, and a whole range of convenience."

Irving also said in a statement, “I think there are a number of untapped areas of growth in the monitored security business and think that this joint venture establishes a strong platform as we build towards not only the connected home but the intelligent business.”

In terms of demand from the SMB space, Telstra expects early adopters to be retail-based; companies which want to monitor customer movement and behaviour, as well as staff interactions. The telco also sees applications in occupational health and safety, and in manufacturing.

"A lot of businesses are taking their first steps in software-as-a-service (SaaS). We see this as adding another leg because of the power of analytics combined with high-speed networks, and particularly the ability for SMBs to be in more than one space at once."

Read more: Mobile malware started with Cabir a decade ago: Kaspersky

Customers can expect Telstra to package and bundle TSM with its existing services in "the coming months" once it completes "background IT work."

With TSM to focus on monitored security, SNP will continue to operate its guarding services, patrol and aviation business separately.

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Tags TelstraTelcoTelecommunicationssmbfinancialacquisitiontelecomventureresidentialSNP Security

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