ALARMFORCE $9.86 - Toronto symbol AF

ALARMFORCE $9.86(Toronto symbol AF; TSINetwork Rating: Speculative) (1-800-267- 2001; www.alarmforce.com; Shares outstanding: 12.2 million; Market cap: $122.3 million; Dividend yield: 1.0%) has completed the strategic review of business opportunities that it launched in August 2012. This process included a possible sale of the company.

The review did not result in a takeover offer that the company felt reflected its value. As a result, it will now focus on growth.

AlarmForce’s outlook is bright, and it has potential to grow by offering new services to its subscribers. That includes its VideoRelay system, which lets users watch their homes through computers and smartphones.

However, new competitors are now entering the Canadian market, including Rogers Communications’ Smart Home Monitoring service.

AlarmForce is a hold.

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