GE likes Multi Dwelling Unit market
BRADENTON, Fla.--An exclusive arrangement like the one announced in June between GE Security and Protection One is a bit unusual for GE, said Jim Paulson, general manager of the intrusion group for GE Security.
Under the agreement, GE will provide Protection One's wholly owned subsidiary, Network Multifamily Security Corporation, its wireless security network and property management software, a product that allows the alarm system to function regardless of what type of phone system an apartment resident has or does not have.
"The reason we did it is because Network Multifamily is a clear market leader in this space. We feel a strategic alignment like this will enable both companies to leverage each other's strengths," Paulson said.
Plus, Paulson added, GE likes the multi dwelling unit market. With the rising cost of single-family homes, especially in metropolitan areas, coupled with the demographic change of baby boomers selling single-family homes and moving into multi-family situations, GE believes this is a growing market.
"We're bullish on the MDU market and we think Protection One has a strong position in it. With our offering and our market leadership position, the two just seem to make sense," Paulson said.
Paulson noted that the MDU market is more than just campus-like multi-family facilities. It includes high-rise apartment buildings, which are much like commercial installations and are attractive to GE as well.
"With the breadth of product lines that GE has, we can offer the high rise a complete line of fire, access control, video and structured wiring," he said.
Paulson indicated that GE will continue to work with Protection One: "Are we interested in growing with Protection One our business in the residential market? Absolutely. Who wouldn't be?"