Securus Technologies will connect family and friends to the incarcerated through excellent communication services. As the biggest incarcerated individual communications provider, they help maintain relationships between incarcerated inmates and their family and friends through easy-to-use incarcerated inmates calling options and Video ConnectSM from anywhere using mobile, tablets or PCs.
What Company Owns Securus Technologies?
Now, you may want to know information about what company owns Securus Technologies. You have to know that Securus Technologies is owned by Beverly Hills-based private equity firm Platinum Equity. For your information, Platinum Equity is an American private equity investment firm made by Tom Gores in the year of 1995. The company focuses on leveraged buyout investments of the companies in the United States, Asia and Europe.
In addition, here we are going to explain about the Platinum Equity history. Based on the research, Platinum Equity was founded by Tom Gores in 1995. The company’s first acquisition was LSI, a company which generated computer graphics to recreate accidents for courtroom testimony. After buying it for $200,000, then the Platinum Equity company focused on servicing existing customers and returning the company to profitability.
Over the next 5 years, approximately between July 1996 and September 2001, the company made 32 acquisitions with $226 million, and realized $940 million on those investments. Those acquisitions included a call center, networking gear, and voice and data service. We get information that BusinessWeek ranked the company number 10 on its 1999 list of the country’s top 20 private IT organizations, based on the revenues of 1998. During this period, additional partners joined the company and some others joined via key acquisitions starting in the year of 1999.
The company’s first fund, Platinum Equity Capital Partners, was collected in the year or 2004. Since June 30, 2009, it had a 62.5% net internal rate of return. For the second fund, Platinum Equity Capital Partners II that closed in September 2008, even though there was uncertainty in the financial markets, the company at first sought a $1.5 billion leveraged buyout fund and almost doubled it by raising $2.75 billion.
In 2009, during the financial crisis, Platinum Equity earned 14 companies in the first 11 months of 2009. In 2011, Platinum Equity became a main sponsor of the Detroit Pistons basketball team that saw Gores as the new owner. Formerly, its name appeared on the Pistons’ court at the Palace of Auburn Hills, but when they moved to the new Little Caesars Arena in downtown Detroit, the company’s name was applied to that arena’s home court. In 2017, Platinum Equity finished the acquisition of the Staples business in Australia and New Zealand from Staples Inc.
Read also: How to Invest in Securus Technologies
Where is Securus Technologies Located?
Securus Technologies is headquartered in Dallas, Texas, with regional offices located in Texas, Miramar, Missouri, Carrollton, and Houston. The company employs about 1,600 people. And it is reported to have contracts with 2,600 correctional facilities in the United States. By the end of 2021, Aventiv Technologies deployed over 400,000 tablet devices to incarcerated inmates including 100,000 tablets which Securus Technologies made available to incarcerated inmates in Texas for free, with additional content that was expected to cover the costs.
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