Protection One to Buy Dallas Alarm Firm

Protection One Inc. said it will buy Network Multi-Family Corp. from Western Resources Inc. for about $175 million in cash, expanding its alarm service into the apartment and condominium market. Protection One, a Culver City-based residential burglar alarm company, said Dallas-based Network Multi-Family is the largest alarm company in the U.S. serving apartments and condominiums. Under the deal, Protection One would become the second-largest U.S. alarm company. Shares of Protection One were unchanged at $12.31 on Nasdaq. Western Resources’ shares were unchanged at $41.13 on the New York Stock Exchange.