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The ADT Corp.

ADT wins public grant to aid in job growth

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Wednesday, October 17, 2012

The ADT Corp., the newly independent company created by the recent breakup of Tyco International, appears on its way to a public-private partnership in Florida that would result in ADT adding more than 100 new jobs.

Palm Beach County yesterday approved giving ADT a grant of $184,000 in return for the Boca Raton, Fla.-based company creating 120 new jobs and retaining 260 jobs at its headquarters, according to the South Florida Sun Sentinel newspaper.

The county approval is just one step in the process. “The proposal also calls for ADT to get $184,000 form Boca Raton and about $1.3 million from the state,” according to the newspaper.

Sarah Cohn, ADT director of media relations, noted that the proposal is not finalized because the state still needs to sign off on it.

The proposed 120 jobs would be “a mixture of all different types of corporate positions,” she said.

Why is ADT, a leading home security company with some 16,000 employees and about $3 billion in sales each year, seeking such taxpayer-funded incentives?

Cohn told me that seeking such incentives is “normal practice” for a lot of companies. “Many state and local governments seek to incentivize companies to stay in their areas," she said.

Indeed, ADT, which began trading on the New York Stock Exchange on Oct. 1, was just one of three companies that county commissioners unanimously approved to receive such incentives, according to the article in the Sun Sentinel. Aerospace company Pratt & Whitney and Digital Risk, a financial services company, each was approved for $300,000 in county grants and millions more in state and city funding to create jobs, the newspaper said.

The Sun Sentinel noted that there has been criticism about investing taxpayer dollars in private companies, but that county officials said creating jobs makes the investment worthwhile.

The newspaper quotes County Commission Chairwoman Shelley Vana as saying: "We are competing with a lot of other places for jobs. We are going to be smart about how we do it.”

ADT job growth linked to public funding incentives

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Tuesday, October 16, 2012

Security Systems News has written previously about plans that The ADT Corp has to add 150 new monitoring jobs at its Irving, Texas facility by the end of November.

But now that new independent company—which emerged from the recent breakup of Tyco International and began trading on the New York Stock Exchange on Oct. 1—also reportedly has plans to add 120 jobs at its headquarters in Boca Raton, Fla.

However, to create those Florida jobs, ADT is seeking as much as $1.62 million in state, county and local funding, according to the South Florida Business Journal.

Here’s some of what that publication had to say about the security giant, which it notes has revenues of more than $3 billion per year:
 

ADT Security Services received $1.24 million from the state in 2010 for creating 100 jobs as part of the construction of its Yamato Road headquarters. … On Tuesday, Palm Beach County commissioners will vote on whether to extend ADT an offer for $184,000 in job growth incentives. Boca Raton has pledged to give the company the same amount, while the state has offered ADT $1.25 million.
The money would be paid out over three years, should ADT create 120 jobs with annual salaries of $81,110, plus retain 260 current jobs. The company must also spend at least $400,000 retrofitting 175,000 square feet in its headquarters. … The regional economic model shown to the county states that ADT would have a $138 million economic impact over five years.

I’ve reached out to ADT to learn more about the jobs, the plan to redo its headquarters and why it’s asking for the public incentives. Stay posted!

 

Biggest ADT sign ever?

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Sunday, October 7, 2012

I’m in the Big Apple to cover a ceremony tomorrow morning in which the newly independent ADT will ring the bell at the New York Stock Exchange. While walking around today, I’ve been noticing that many businesses here display a small octagonal blue ADT sign in the corner of their windows.

But that sign really hit me in the eye today when I went to check out the NYSE on Wall Street. A huge white banner bearing the trademark blue ADT sign was stretched across the stately columns that mark the entrance to that venerable institution. The banner was about four stories high and some sixty feet wide—probably one of the biggest ADT signs ever.

Another banner underneath proclaims that ADT is now trading on the NYSE and is “always there.”

The ceremony tomorrow, Oct. 8, will mark The ADT Corp.'s first week of trading and judging from the sign, ADT plans to make a splash.

Boca Raton, Fla.-based ADT began trading last week on Oct. 1. It opened at $36 according to news reports, and was at $38.24 at closing time on Friday.

The company was formerly part of Switzerland-based Tyco International, but that company split into ADT, Tyco (which includes SimplexGrinnell and Tyco Integrated Securityl) and its former flow control business, now part of Pentair Ltd. ADT has nearly 6.4 million customers in the United States and Canada and nearly 16,000 employees.

ADT celebrates independence

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Wednesday, October 3, 2012

I reported yesterday that The ADT Corp. had done well on the New York Stock Exchange on its first day Monday as a publicly traded company. The positive trading news seems to be continuing today. ADT’s stock was trading at $38.96 just after 2:30 p.m. today. It opened at $36, according to news reports.

To celebrate its first week as an independent company, Boca Raton, Fla.-based ADT is also gearing up for a ceremony this coming Monday, Oct. 8. That’s when the company, which has nearly 6.4 million customers in the United States and Canada and nearly 16,000 employees, will ring the opening bell at the stock exchange.

The company says that CEO Naren Gursahaney, Chairman Bruce Gordon, and CFO Kathryn Mikells and others will be joined on the bell podium by longtime customers Tom and Kathi Guarino of Glen Head, N.Y.

According to ADT, “thanks to ADT’s home monitoring system, the Guarinos were alerted last year during Hurricane Irene to dangerously high carbon monoxide levels in their home. The alarm prompted ADT’s trained call-center experts to contact local first responders, who raced to the Guarino residence and provided life-saving medical care. The family attributes their rescue to their ADT system, the company’s team of trained specialists and skilled first responders. The Guarinos also have an ADT system in their family-owned business in Glen Head and have been ADT customers for nearly 20 years.”

It sounds pretty impressive—and I’ll be there! Keep tabs on our site next week to learn more.

Wall Street likes the new ADT

 - 
Tuesday, October 2, 2012

Yesterday marked the first day of trading on the New York Stock Exchange for The ADT Corp., the new name for independent ADT post its split with Tyco International. It did well on the market, according to news reports.

Here’s more from Dow Jones Newswires:
 

Tyco International Ltd (TYC) and spinoff [The] ADT Corp. (ADT) received warm receptions from the market during their first day of trading as slimmed-down companies focused on different parts of the market for building security and safety.

Fire-protection-and-suppression equipment manufacturer Tyco on Monday closed up 3.1% at $28.50 a share. Meanwhile, home-security-monitoring service ADT finished up 3.5% at $37.27 a share after being lower for the first half of Monday's trading session. Analysts said ADT's performance reflected investors' cautiousness about assigning a price to a company with no natural market peers.

"The shareholder profiles for these two companies are quite different," said Nicholas Heymann, an analyst for Robert W. Baird. "You've got a cyclical growth stock [in Tyco] and basically an industrial utility stock" in ADT.

Tyco, which has its headquarters in Switzerland, was once one of the world's largest industrial conglomerates. It grew over years of accelerated purchasing under former CEO L. Dennis Kozlowski, who was convicted in 2005 of larceny, securities fraud and falsifying business records stemming from schemes that allowed him to reap hundreds of millions of dollars from Tyco and its stock to support his lavish lifestyle.

Edward Breen, who replaced Mr. Kozlowski in 2002, has spent the past 10 years methodically shrinking Tyco by selling dozens of businesses and spinning off parts of the company to shareholders as stand-alone companies.

A year ago, Tyco announced plans to further dismantle the company by spinning off ADT and the company's pipe and valve business as new public companies. The pipe and valve business merged earlier this year with pump maker Pentair Ltd. (PNR), leaving Tyco and ADT as the remaining pieces of the company in the breakup.

Tyco's focus is limited to fire-protection systems and equipment used in commercial buildings and institutions such as college campuses. Its Simplex Grinnell brand of sprinklers, fire-detection sensors and video-monitoring service are market leaders.

Read more: http://www.foxbusiness.com/news/2012/10/01/tyco-ad...

 

ADT independence: Today’s the day!

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Monday, October 1, 2012

Officially, ADT’s split from Tyco International took place last Friday, with the distribution of shares to stockholders. But today, Monday, Oct. 1, is officially the home security giant’s first operating day as an independent company trading on the New York Stock Exchange.

Here’s more from the new release the Boca Raton-based company sent out to mark the momentous occasion:
 

The ADT Corporation, a leader in the electronic security, interactive home and business automation and alarm monitoring services industry in the U.S. and Canada, returned today to the public equity markets as an independent company after completing its spinoff from Tyco International Ltd. Founded nearly 140 years ago, ADT begins its next chapter as one of the most well-known and trusted brands in the security industry, with $3.1 billion in 2011 annual revenue and 6.4 million customers. Its shares are listed on the New York Stock Exchange under the ticker symbol ADT and it is a constituent of the S&P 500 index.

“The launch of ADT as an independent company is a great moment for our employees, and it marks an exciting milestone in our proud history,” said ADT CEO Naren Gursahaney. “ADT leads the security industry because of our commitment to customer service, focus on innovation and continued investment in our infrastructure and our people. But what really differentiates us is that we never forget what we do for a living – we help save lives.”

With nearly 16,000 employees in 200 locations, ADT maintains the largest sales, installation and service field force of all security providers. The company’s six fully redundant alarm monitoring centers comprise the industry’s most robust monitoring network. ADT serves one-fourth of the North American residential and small-business monitored security market, fully six times the size of its closest competitor.

The North American market for residential- and small-business-monitored security exceeds $12.5 billion in annual sales, up from $11.3 billion six years ago, according to ADT research and analyses of industry data. In addition, just one-in-five U.S. households possess a monitored security system today, leaving significant scope for ADT to expand in the overall market. ADT will use its spinoff from Tyco as an opportunity to pursue a unique growth strategy as a pure-play security company, focused on capturing additional market share through an expanded portfolio of offerings.

ADT’s broad range of products and advanced service offerings meet a range of customer needs for today’s lifestyles. They comprise:
 Residential Security: The core of ADT’s business, providing customers with burglar, fire, carbon dioxide and other essential alarm monitoring.
 Small Business: An important and growing market where ADT has tailored its best technology and services from other areas to provide a full range of intrusion detection, monitoring and surveillance and other essential services.
 ADT Pulse: A pioneering technology that lets residential and business customers access information and control their security systems remotely. Pulse delivers functions that record and view live video and text messages at a trigger event. When ADT launched Pulse in 2010, it was the first security company to offer a mass-market home automation system nationwide. Today, more than 1-in-3 home security units that ADT sells is a Pulse system.
 Home Health: ADT’s Personal Emergency Response System (PERS) provides customers with solutions that help sustain independent living by providing security and safety in the case of a fall or unexpected medical emergency. Driven by demographic trends and lifestyle changes, this is a growing market segment.

“As an independent company, we will invest for growth by uncovering new revenue streams and building our product portfolio through innovations and partnerships, including extensions to the ADT Pulse platform,” said Gursahaney. “I see a bright future ahead.”

 

ADT set to 'go it alone'

CEO of The ADT Corp. squelches rumors new entity will be takeover target
 - 
09/18/2012

BOCA RATON, Fla.—Tyco International shareholders voted Monday to approve splitting Tyco into three separate companies—one of them ADT, another a commercial fire and security business, and the third a flow control unit. ADT officials say they’re eager to see ADT become a stand-alone company, providing security and interactive services to residences and small businesses and focused on innovation and growth.

Tyco sets stock distribution date for ADT split

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Friday, September 7, 2012

The big development we’re all awaiting in the industry is ADT parent company Tyco International’s split into three independently traded companies as of Oct. 1: The ADT Corp., Tyco Fire and Security and Tyco Flow Control International, which will be renamed Pentair Ltd.

In advance of the split, Tyco put out a news release this week announcing that Sept. 28 will be the date that distributions of equity interests in The ADT Corp. and Flow Control will be made to shareholders. Those two companies “are the two wholly-owned subsidiaries formed to hold Tyco's North American residential and small business security and flow control businesses,” the company said the Sept. 6 release.

Switzerland-based Tyco said the payment date is dependent on shareholder approval, to be obtained at a special meeting slated for Sept. 14, and other conditions. The distribution will be made to shareholders of record as of Sept. 17, Tyco announced.

As the company previously has said, Flow Control will merge with Pentair, Inc. immediately after the distribution. Tyco added, “Prior to the distribution and the merger, Flow Control will be renamed Pentair Ltd.”

Tyco said it “currently has approximately 462 million basic shares outstanding.” Based on distribution ratios, the company said, “approximately 231 million shares of ADT common stock and 111 million shares of Flow Control common stock will be distributed to Tyco shareholders.”

ADT has filed an application to list its common stock on the New York Stock Exchange under the trading symbol “ADT,” Tyco said. Flow Control's common stock will be listed on the New York Stock Exchange under Pentair's current trading symbol, “PNR.”

For more details, check out:
http://www.heraldonline.com/2012/09/06/4241903/tyc...

ADT enhances Pulse with new Home View application

New software allows Pulse customers to remotely interact with home devices via personalized floor plan
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06/06/2012

BOCA RATON, Fla.—A new free feature for ADT Pulse enables customers to create a virtual floor plan of their home to control smart-home devices through a mobile device or on the Web.

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