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Protection 1

The 'New ADT' is here

 - 
Wednesday, May 4, 2016

The "New ADT" is here. As of May 2, the Protection 1/ADT deal is closed, and ADT is no longer trading on the New York Stock Exchange.

The deal, initially announced in February, was the third major security investment for Apollo Global, which announced it would buy ADT for $6.9 billion and merge it with Protection 1.

I tried to get a call scheduled with Tim Whall who is the CEO of the combined company or someone else at “The New ADT,” but have not heard back yet.

The official announcement had little new information, it mentioned that the headquarters of the combined company will be ADT’s headquarters in Boca Raton, Fla., and said that the company will “operate primarily under the ADT brand.”

Will the Protection 1 name go away completely? Who will run the resi business? What about ADT's nascnet commercial business? Is CMS staying or going? CMS has the opportunity to go after the cablecos/telecom business and DIY business that other wholesale monitoring companies are doing well with. Will it? As a non-public company, ADT can concentrate on slow smart growth--something observers say it has done well with, even under the constant scrutiny of the stock market. So many questions to ask.

Goldman, Sachs served as lead financial advisor to ADT and BofA Merrill Lynch also served as financial advisor to ADT.  Barclays, Deutsche Bank, Citigroup Global Markets Inc. and RBC Capital Markets, LLC served as financial advisors to Apollo and Protection 1 and provided debt financing.  PSP Investments Credit USA LLC also provided debt financing.

The deal also provided an entry for the Koch Brothers into physical security. An affiliate of Koch Equity Development LLC, the investment and acquisition subsidiary of Koch Industries, provided $750 million of preferred equity financing.

Simpson Thacher & Bartlett LLP served as legal advisor to ADT. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to Protection 1 and Apollo.  Milbank, Tweed, Hadley & McCloy LLP served as legal advisor to Koch.

 

Protection 1 enhances eSuite data analytics platform

Demoed at ASIS, has new mobile capabilities, available now
 - 
04/19/2016

CHICAGO—Protection 1’s eSuite 2.0, the latest version of its data analytics/reporting platform for commercial customers, has a number of new features including mobile device capability.

ADT vote on acquisition April 22

Go-shop stopped, 24 potential ADT suitors not interested
 - 
04/04/2016

BOCA RATON, Fla.—ADT stockholders will gather April 22 for a special meeting to vote on the proposed acquisition of ADT by Apollo Global Management. ADT announced in February that it had agreed to be acquired by Apollo for $6.9 billion. Apollo plans to merge ADT with Protection 1.

Protection 1 appoints industry veteran Ken Rosen as resi sales VP

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03/21/2016

ROMEOVILLE, Ill.—Protection 1, a full-service business and home security company, has hired Ken Rosen to serve as its new VP of residential Sales, reporting to chief revenue officer Jamie Haenggi.

Megamergers: benefit or pitfall?

Industry leans toward ‘benefit,’ but debate continues
 - 
03/16/2016

YARMOUTH, Maine—Industry consolidation will accelerate this year with two megamergers—the Tyco/JCI deal and the ADT/Protection 1 merger—expected to close by the end of 2016. Does this activity help or hurt the industry? Respondents to Security Systems News’ latest news poll who said massive consolidation is good just barely edged out those who said these megadeals hurt the industry. Meanwhile, another group of respondents said they have other things to worry about.

Monitoring companies foresee benefits from ADT/Protection 1 merger

Five leading monitoring companies share views on megamerger
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03/09/2016

YARMOUTH, Maine—Monitoring companies have an opportunity to attract new business, new dealers and new employees in the wake of the planned ADT/Protection 1 merger, according to five leading monitoring companies who spoke to Security Systems News.

Apollo to buy ADT for $6.9 billion, combine with Protection 1

Tim Whall to be CEO of combined business, which will operate 'primarily under the ADT brand.'
 - 
02/16/2016

BOCA RATON, Fla.—Apollo has landed again. After years of rumors that ADT would be acquired by one entity or another, the home and business security giant today announced it has agreed to be acquired by Apollo Global Management for $6.9 billion ($42 per share). Apollo plans to combine ADT with Protection 1 and, according to an ADT news release, “will operate primarily under the ADT brand.”

Video verification and I-View Now, providing more information

 - 
Wednesday, November 11, 2015

SIA and Security Systems News hosted a webinar last week, focusing on I-View Now and what video verification can do for alarm businesses. Presenters underlined the value and importance behind verification, such as the ability to provide police with more information before dispatch.

The panel, moderated by SSN’s VP and group publisher Tim Purpura, featured Larry Folsom, president of I-View Now, Michael Keen, VP of commercial sales for Protection 1, and Alice DeBiasio, general manager, cloud services at Honeywell Security and Fire.

I-View Now integrates disparate surveillance video into one unified interface for video verification, making the process easier on central station operators.

I-View Now is also integrated with home automation devices such as Honeywell’s Total Connect. Folsom said that consistency is important; as in having the same views for both the central station operator and for the end user checking in on their system.

Some devices, like cameras, are now sold I-View Now Ready, meaning that it can connect with the platform automatically, reducing the amount of install time.

Purpura asked the webinar audience, “What percentage of your current account base requires some sort of verification before dispatching police services?” Just under half said that verification is needed on less than 20 percent of their accounts. Twenty-eight percent need verification for 20 to 40 percent. Fourteen said between 40 and sixty percent of their accounts, and 9 percent said more than 60 percent of their accounts.

Some of these results could be due to non-response cities—areas that require verification before dispatching police. Although, Folsom said, “Additional information is just helpful regardless of the city’s response policy.”

Verification was more finely defined recently, Folsom pointed out, referencing the Texas Police Chiefs’ definition, established earlier this year

The panel also addressed the DIY market. Folsom pointed to the difficulty for 911 centers, that calls from cell phones often reach the wrong 911 center.

Folsom said DIY/MIY Market isn’t a threat, but instead an opportunity. Keen said that Protection 1 adopted DIY solutions as a way to reach customers outside the company’s network, and reach the “tech-savvy” customers that enjoys installing the system themselves. DeBiasio pointed to a potential to eventually upsell DIY customers to professional systems.

The full webcast is available on demand here.

Integrators '20 under 40' 2015—Matt Cooper

 - 
10/13/2015

Matt Cooper, 32
Director of field operations, Protection 1
Dallas

Haenggi takes on new role at Protection 1

Jamie Haenggi will oversee sales, marketing and customers operation for $600m full service security firm
 - 
08/31/2015

CHICAGO—Full service security giant Protection 1, which was recently acquired by private equity firm Apollo Global, today announced that Jamie Haenggi has been promoted to the newly created role of chief revenue officer.

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