ADT gets anti-trust clearance for Broadview deal; has first joint planning pow wow in Boca
Getting ready to head out to Vegas for ISC West? Me too. Need some security stuff to talk about on the plane? Here's the latest on the ADT/Broadview deal. John Koch, president of ADT North America told Broadview and ADT employees in a video presentation last week that ADT "recently received anti-trust clearance for the transaction. This is an important milestone toward closing the deal. There are still a few steps remaining before we finalize the transaction, including the upcoming Broadview shareholdersâ€™ meeting for approval of the sale, and, of course, announcing a close date. Until those steps are completed, we must continue to compete in the market as independent companies." I haven't been able to find a date for the Broadview meeting. Have you? Guess ADT likes the video presentations. Naren Gursahaney (ADT president Americas) was featured in one that was shown to Broadview employees when the ADT/Broadview deal was announced last month. In Koch's video, he gave an update on the ADT/Broadview integration planning. He said that he, Broadview CEO Bob Allen and Naren Gursahaney are Executive Steering Committee for the process "providing overall direction and guidance." Meanwhile, managing the plan will be Broadview EVP Shawn Lucht and ADTâ€™s VP of Operational Excellence Ramon Genemaras. They're in charge of the "Integration Management Committee" which is comprised of employees from Broadview and ADT from different departments like Sales, Marketing, Customer Care, Operations, Human Resources, IT, Finance, Real Estate, Procurement and Public Company Functions. Each of the different departmentsâ€”Koch called them functional areaâ€”are working with legal types to put together â€œchartersâ€ ie. "priorities, work thatâ€™s in and out of scope, and interdependencies with other departments." The idea is to make sure everyone knows what everyone else is doing. Koch explained it this way:
For example, in customer-facing areas, charters are looking at how to best handle customer inquiries during the integration. We know that existing and new customers will have questions after the deal closes, so we are looking at ways to make this an easy transition for them. With all the work being done at Broadview and ADT, we know that we must always keep our customers and team members as top priorities. In order to ensure we do this, we have created three cross-functional teams. These teams are working on customer retention, customer acquisition and organizational structure. These areas impact every single corner of the business. Thatâ€™s why weâ€™ve built them as independent priority programsâ€¦ to ensure we remain focused on them.Up until last week, ADT and Broadview integration teams had been working on their charters separately. Last week, they had their first joint integration planning meeting at ADT HQ in Boca Raton, Fla. "It was great for the teams to finally work together," Koch said. Koch acknowledged that being part of an integration of an acquired company "can feel unsettling." To help the two companies understand each other, they conducted a Culture Survey. What did the survey say? Survey said:
We know we are different; but we also know that we have many things in common. From the survey, we know that both companies are focused on the customer, are values-driven, and results-oriented. Both Broadview and ADT also have a thirst for innovation and strive for excellence. The survey also revealed differences in perceptions of cost versus quality. We will build on upon our shared attributes together and we will also learn from our differences.