Vienna-based security software company Alarm.com has filed for a $75 million initial public offering. The exact dollar amount may change as the date for the IPO gets closer. The company is looking to go on the Nasdaq using ALRM as a ticker symbol.
The company was bought out by ABS Capital Partners for $27.7 million from Microstrategy in 2009 and raised $136 million in 2012 from Technology Crossover Ventures. It was not long after that that rumors of building to an IPO began.
Alarm.com's smartphone-based security management software may look more appetizing to investors as the Internet of Things grows in popularity. Remote management of security, lights, energy and other home systems is the kind of tool that got Samsung to buy SmartThings for $200 million last year.
There are around 2.3 million Alarm.com subscribers. Most of them are residential clients but some restaurants and other companies use the software too. The company said the proceeds of going public will go toward general working purposes.
