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SSN marks 10 years of celebrating Women in Security

This year features women from JCI, Resideo, CMS and others
 - 
11/27/2018

YARMOUTH, Maine—For the 10th consecutive year, Security Systems News has the honor of featuring several outstanding Women in Security, each of whom has stood out in her company and within the industry. This year’s profiles include women from different areas of the business, including commercial integrators, manufacturers and monitoring centers.

JCI to sell Power Solutions business for $13.2 billion

 - 
Tuesday, November 20, 2018

Johnson Controls International announced a definitive agreement to sell its Power Solutions business to Brookfield Business Partners L.P. in a cash transaction valued at $13.2 billion.

"Today's announcement marks a significant milestone in the ongoing transformation of the Johnson Controls portfolio," JCI chairman and chief executive officer George Oliver said in the announcement. "The sale of our Power Solutions business will create value for investors by streamlining our portfolio and giving us increased financial flexibility to strengthen our balance sheet, return capital to shareholders and create optionality in our Buildings business. This focused portfolio will allow us to capitalize on secular growth trends and to deliver strong financial performance through improved free cash flow conversion, lower capital intensity and continued margin expansion."

Net cash proceeds are expected to be $11.4 billion after tax and transaction-related expenses. JCI expects to deploy $3.0- to $3.5 billion of proceeds toward debt pay-down and retain an investment grade credit rating. The remaining proceeds will be available to return to shareholders, with more specific details to be announced around the close of the transaction.

"With this transaction, Johnson Controls becomes a pure-play building technologies and solutions provider that is better positioned to lead the integration and evolution of the connected building and to capture strategic opportunities in the HVAC industry,” Oliver said. “I would like to thank the Power Solutions team for their significant contributions over the years and their dedication throughout the strategic review process."

Johnson Controls' Power Solutions business, and 15,000 Power Solutions employees create, manufacture and distribute “the most advanced battery technologies for virtually every type of vehicle. These technologies deliver uniquely sustainable, next-generation performance,” JCI said.

In fiscal 2018, Power Solutions generated $8.0 billion in revenue and $1.68 billion in earnings before interest, taxes, depreciation and amortization. The transaction price of $13.2 billion represents a multiple of 7.9x trailing twelve month EBITDA, according to JCI.

The transaction is expected to close by June 30, 2019, subject to customary closing conditions and required regulatory approvals. Power Solution's operating results will be reported in discontinued operations beginning in the first fiscal quarter of 2019.

Centerview Partners and Barclays served as financial advisors to Johnson Controls, and Simpson Thacher served as legal advisors.

Johnson Controls is a global diversified technology and multi-industrial company with 120,000 employees serving a wide range of customers in more than 150 countries.

PSIA elects execs from Convergint, JCI

 - 
Wednesday, January 24, 2018

The Physical Security Interoperability Alliance (PSIA) announced it has elected Mike Mathes, EVP of Convergint Technologies, as its chairman, and Jason Ouellette, product general manager-access control for Johnson Controls, as its vice chairman. The PSIA membership develops specifications for enabling standards-based sharing of digital data and intelligence throughout the physical security and enterprise ecosystems.
 
"Mike and Jason bring us strong technology, commercial and industry leadership skills," David Bunzel, executive director, the PSIA, said in the announcement. "They will be powerful evangelists for how standards-based physical security systems can help the industry create new opportunities for systems integration and data sharing while solving cost and complexity challenges." 
       
As PSIA Chairman, Mathes will work closely with the PSIA Board to identify industry needs for new and enhanced PSIA specifications. He will be responsible for growing the organizations membership and helping companies determine migration strategies needed to specify and/or adopt and implement PSIA specifications. "With an expanded membership base, we'll see further adoption of open standards, which will drive down the cost of system integration for the end user," Mathes, said in the announcement. At Convergint, Mathes leads the Advanced Solutions Group.

Ouellette's role as PSIA Vice Chairman will include defining the technical aspects of PLAI necessary to make this an effective commercial standard, including enhancing and promoting a robust set of test tools to assure industry compliance and interoperability for PLAI. Ouellette, who at JCI is responsible for the global access control businesses, specific to program management, product management, and engineering functions, said in a prepared statement, "The PSIA specifications make it easier for integrators to offer high quality solutions with less integration time and lower total cost of ownership."

Peter Boriskin, vice president product management at ASSA ABLOY Americas, will continue as the PSIA's treasurer.

"PSIA open standards can solve real enterprise problems for customers in way that is not possible through standard integrations,” Boriskin said in the announcement. “I am looking forward to working with Mike, David and the rest of board to help the industry understand our use cases and encourage rapid adoption of PSIA specifications, in particular through the development of PLIA adaptors by manufactures."

Interface buys Westec and other stuff I learned at ISC West on Day 1

 - 
Thursday, March 29, 2012

Big news from yesterday was the acquisition of Westec by Interface Security Systems. The story is on our front page or click here . You can also see my video interview with Jeff Frye of Interface Security Systems about the Westec deal on our front page or by clicking here.

Winning the procrastination award for latest to announce a press conference at ISCWest  2012 is BRS Labs. I got the announcement a little after midnight--8 hours notice!

It's not a strategy I'd recommend, but there was a good crowd in the press room at 9 a.m. today. John Frazzini, president of BRSLabs, showed several examples of how the software "learns" how a certain venue should look day and night and then goes into alert when there’s an anomaly. The first example was subway tunnel. The alert went off when a regular automobile tried to follow the subway into the subway tunnel.

BRS Labs, just received its umbrella patent, and some of its wins are part of the public record, including a $2 million deal with the San Francisco.

Frazzini believes the future is bright for behavioral analytics. He said that IMS predicts that behavioral analytics will be a $2.1  billion addressable market by 2015. On the other hand, traditional video analytics have been a $57 billion market through  2010,  and is expectd to grow to $108 million market by 2015. Frazzini called that growth "immaterial and irrelevant" and said a behavioral analytics is causing a “real disruption in the marketplace.”

INGRAM MICRO

In another unscheduled—at least in my book—press conference, I heard Ingram Micro’s Brian Wiser talking about that company's renewed push into the physical security business.

Wiser said the Ingram Micro physical security business has doubled in the past year.  He said Ingram Micro considers physical security a “strategic high growth focus [area, and said the company intents to]  dedicate disproportionate resources to this business unit.” Integrators should not be afraid of making the leap into IP systems, he said. “Ingram can help them make the leap—to enable them to do it themselves [or if they need help with a particular project] we can connect you with someone who can do that for you in a non-competitive fashion.”

Wiser said that Ingram Micro—which had 20,000 square feet of show floor space, 30 partner vendors and 450 VARS—intends to enter the industry in a big way—to "dive in and dive deeply," he said.

JOHNSON CONTROLS

I had a great meeting with Tammee Thompson who is the new VP and GM global fire and security for Johnson Controls. Her appointment was announced last week, but she’s been in place for about 5 months.  

This is the first time the global fire and security unit has been organized into a global PL. Thompson has spent the past four months traveling around visiting teams in the field, understanding the capabilities the groups have and need to grow the business. The goal, she said, is to the become the integrator of choice.

In North America, JC has 80 branch offices that offer security and fire as well as services and HVAC. “That will help us on a regional basis to offer entire portfolios to customers,” she said.
AT ISC West, Thompson's team is looking at technologies, not devices. JCI has an access control platform that integrates with 17 VMS providers. At this show Thompson's team is  nvestigating complimentary platforms such as PSIM and Identity Management.

WSC

At 12: 45 I moderated a Women’s Security Council meeting with three very cool and accomplished women: Kelly Bond, senior vice president of sales & marketing for Alarm Capital Alliance; Renae Leary, ADT Global Accounts Senior Director; and, Juliette Gustavsson, Milestone Systems Head of Corporate Marketing. Lots of tips, tactics and resources for career advancement. I’ll have a full story on this next week.

S2

I stopped by S2 and spoke to John Moss about what’s new there. He’s particularly excited about forensic capabilities of his new products enabled because of the tight integration between the access control and video.  More on this and other show floor stuff later.

I'm late getting to the show floor. The Security 5K was great this morning. Lots of people, great weather. Come to the reception on the show floor at 4:30 this afternoon.

Did you see the story about ADT commercial changing it's name that I posted on Tuesday? Gonna get some more info on that today from Jay Hauhn. Much more to report from Day 1 and Day 2 later today. Stay tuned.