Securadyne CEO: IPVM 'Entertaining For An Ignorant Few'

By: John Honovich, Published on Apr 16, 2019

Securadyne's CEO Carey Boethel is unhappy with IPVM's report - Failed Integrator Rollup, Securadyne Sells to Guard Giant Allied.

entertaining for the ignorant few

Indeed, he responded to IPVM declaring:

Nice article today. Wrong on multiple accounts and totally ill-informed. But I suppose it was entertaining for an ignorant few.

In fairness, that is a clever put-down... for a 10-year-old.

Thorough Reporting

His problem is we provided a thorough, well-documented, report with 20+ citations, covering his company's last 8 years, showing how Securadyne stagnated for many years, failing to achieve their plan.

To summarize our report, their plan, disclosed at the time of the investment, was to acquire various integrators and achieve a national footprint. They never achieved a national footprint and they stopped acquiring integrators 5 years ago, so they did not achieve their plan. As late as 2016 Boethel said their plan was to get to a "projected $90 million by 2017". That plan failed too and we know this because Allied, in the acquisition announcement, showed Securadyne 2018 revenue to be just $73 million, less than Securadyne's revenue in 2014.

No Counter Argument Made, Just Disparagement

Boethel did not respond with any facts nor details to contradict or disprove our reporting nor citations.

Get Notified of Video Surveillance Breaking News
Get Notified of Video Surveillance Breaking News

Instead of actually and factually responding to our reporting and critique, Boethel chose to disparage us.

Exposing Hype

One important lesson is to be skeptical of hype, as an integrator observed:

Wasn't Securadyne one of the security industry's rag mags golden child not that long ago? You know, #1 of the Fast100 or something like that. I know the general rule in the industry mag world is that you gotta pay to play, but the sheer amount of smoke and mirrors that is probably being pushed out ... Oh well ....

Securadyne got tens of millions of dollars from a financier to buy out integrators, used that to generate media hype while working integrators got to work in the trenches.

Dealing With Problems

Our advice to Boethel and other executives with problematic businesses is to acknowledge issues maturely and explain how the company is going to improve.

It might feel good for a few minutes to disparage a critic but you will achieve more, in the long-run, by thoughtfully assessing and properly explaining what went wrong and how those experiences will help improve future strategies. 

Ignorant Few vs Open Secret

The irony of all this and Boethel's 'ignorant few' comment is that executives we spoke to, both before and after the deal, widely knew of Securadyne's and Boethel's problems. This had been an open secret.

Comments (41) : PRO Members only. Login. or Join.

Related Reports

Sales Turnover At Anyvision on Feb 13, 2019
Anyvision raised a $43 million Series A and according to their newest investor: what you need to do is push the gas pedal and build an...
Silicon Valley Cybersecurity Insurance Startup Coalition Profile on Mar 20, 2019
Many industry people believe cybersecurity insurance is not worth it, as the voting and debate in our Cybersecurity Insurance For Security...
Failed Integrator Rollup, Securadyne Sells to Guard Giant Allied on Apr 10, 2019
One of the most ambitious integrator rollups of the decade has reached its conclusion—selling to a mega guard company. Allied Universal has...
Verkada Salesman: IPVM "Stuck In A The Stone Age" on Apr 25, 2019
Verkada is 'tackling dinosaurs' and battling those, like IPVM, who are 'stuck in a the stone age'. Verkada's recent sales recruiting promotion...
Inside Look Into Scam Market Research on May 17, 2019
Scam market research has exploded over the last few years becoming the most commonly cited 'statistics' for most industries, despite there clearly...
Nortek Security CEO Out, Company Pivoting on May 28, 2019
Nortek Security's CEO, Michael O'Neal is out, after 8 years leading the company, in what Nortek described to IPVM as them having 'pivoted strongly...
Vidsys New President Interviewed on May 31, 2019
A decade ago, PSIM was hot with projections then of a billion dollar market by now. This has not come close to happening. However, Vidsys, one of...
ADT Eliminating Acquired Brands, Unifying Under 'Commercial' Brand on Jun 14, 2019
ADT is eliminating the brands of the many integrators it has acquired over the past few years, including Red Hawk, Aronson Security Group (ASG),...
How To Quickly Research An Unknown Company on Jul 23, 2019
There are hundreds of companies in the physical security markets, ranging from a flood of new startups to small companies that may or may not be...
Wyze Fires Back at JCI - Your Patents Are Invalid, Pay All Of Our Costs on Nov 18, 2019
Goliath JCI targeted startup Wyze this summer alleging the fast-growing consumer startup was violating a slew of JCI's patents. Now, Wyze has...

Most Recent Industry Reports

Hanwha Wisenet X Plus PTRZ Tested on Feb 14, 2020
Hanwha has released their PTRZ camera, the Wisenet X Plus XNV-6081Z, claiming the "modular design allows for easy installation". We bought and...
PRC Warns Against China Video Surveillance Hacks, Hikvision Targeted on Feb 14, 2020
Hackers are targeting China video surveillance manufacturers and systems, according to the PRC's main cyber threat monitoring body. The hackers...
IPVM Conference 2020 on Feb 13, 2020
IPVM is excited to announce our 2020 conference. This is the first and only industry event that will be 100% sponsor-free. Like IPVM online, the...
Bosch Dropping Dahua on Feb 13, 2020
Bosch has confirmed to IPVM that it is in the process of dropping Dahua, over the next year, as both IP camera contract manufacturer and recorder...
BluB0X Alleges Lenel, S2, Software House Are Dinosaurs on Feb 13, 2020
BluB0X is running an ad campaign labeling Lenel, S2, Software House, Honeywell, AMAG and more as dinosaurs: In a follow-up email to IPVM,...
London Live Police Face Recognition Visited on Feb 13, 2020
London police have officially begun using live facial recognition in select areas of the UK capital, sparking significant controversy. IPVM...
Converged vs Dedicated Networks For Surveillance Tutorial on Feb 12, 2020
Use the existing network or deploy a new one? This is a critical choice in designing video surveillance systems. Though 'convergence' was a big...
Monitoreal "Completely Autonomous" Home AI Tested on Feb 12, 2020
Monitoreal claims to allow users to "see the things you want (people, vehicles, animals) and ignore the things you don’t”, using AI to distinguish...
Cisco Video Surveillance Is Dead, Long Live Cisco Meraki Video Surveillance on Feb 11, 2020
A dozen years ago much of the industry thought that Cisco was destined to dominate video surveillance. They stumbled repeatedly, failing. Now it is...
BICSI For IP Video Surveillance Guide on Feb 11, 2020
Spend enough time around networks and eventually someone will mention BICSI, the oft-referenced but only vaguely known standards body prevalent in...