Tag: ADT
ADT Q3 gains driven by strong retention, divestiture of commercial business
November 7, 2023SSN Staff
BOCA RATON, Fla. – ADT is reporting a significant improvement to its balance sheet in its third fiscal quarter, thanks to the divestiture of its former commercial division, as well as strong retention numbers and revenue from Consumers and Small Business (CSB).
A list of financial highlights from the quarter include total revenue of $1.2 billion with end-of-period recurring monthly revenue (RMR) up 3% to $350 million, high customer retention with gross revenue attrition maintaining 12.9%,...
ADT to release third quarter 2023 results
October 23, 2023SSN Staff
BOCA RATON, Fla. – ADT has announced that it will release its third fiscal quarter 2023 financial results before the market opens on Thursday, Nov. 2, 2023.
Following the release, management has stated it will host its conference call at 10 a.m. ET to discuss the financial results and lead a question-and-answer session.
Pertinent topics for the call will likely include the company's recent sale of ADT Commercial to private equity firm GTCR. ADT Commercial rebranded as Everon...
ADT completes sale of commercial division, ADT Commercial rebrands to Everon
October 2, 2023SSN Staff
BOCA RATON, Fla. – ADT has completed what it began in early August of this year, with the divestiture of its commercial division and ADT Commercial rebranding to Everon as part of its acquisition by private equity firm GTCR.
The commercial security, fire and life safety provider and integrator announced today that it will move forward as a standalone organization and rebranded as Everon. The proceeds of the sale nets ADT approximately $1.5 billion, which significantly reduces...
SSN interview with ADT Commercial President Dan Bresingham
September 25, 2023Ken Showers, Managing Editor
DALLAS – Security Systems News (SSN) spoke with ADT Commercial President Dan Bresingham at GSX about its sale to private equity firm GTCR and what comes next for them.
This interview has been edited for length.
SSN: Can you tell us what you have going on for GSX this year, Maybe tell us a little bit about the recent big news you had.
DAN BRESINGHAM: Yeah, we've had a great run. So, we've kind of created ADT Commercial back in 2020. That was our birthday...
The good word
September 20, 2023Ken Showers, Managing Editor
I survived my trip back from GSX mostly unscathed, but unfortunately, now I will be neck deep in transcription with all the wonderful interviews I conducted while there.
One pleasant surprise I had waiting for me when I returned was probably the best response to our news poll we’ve had since I started here at Security Systems News (SSN). It may be that it was just a topic ripe for discussion or a controversial enough decision by ADT, but reader response and comments were phenomenal and that...
SSN News Poll: uncertainty surrounds ADT sale
September 15, 2023Ken Showers, Managing Editor
YARMOUTH, Maine – Last month, ADT made the decision to sell its commercial business, and Security Systems News (SSN) asked readers to chime in and show how that decision is being received.
From interviews at GSX this week, ADT Commercial has made it clear that its excited about the sale, upcoming name change that has yet to be revealed, and the future potential of the company. The readers' response to the decision by parent company ADT to focus on residential, however, was...
ADT participating in 2023 Communacopia
September 1, 2023SSN Staff
BOCA RATON, Fla. – Security company ADT has announced they will be participating in the Goldman Sachs 2023 Communacopia + Technology Conference.
In a late August release, the company wrote that Jim DeVries, ADT President and Chief Executive Officer, will participate in the Goldman Sachs 2023 Communacopia + Technology Conference on Thursday, Sept. 7, 2023, in San Francisco. DeVries will participate in a fireside chat, which will begin at approximately 2:25 p.m. PT.
Goldman Sachs describes...
Z-Wave Alliance offers additional silicon resource and certification house
August 16, 2023SSN Staff
BEAVERTON, Ore. – The Z-Wave Alliance has launched Trident IoT, a technology and engineering company focused on simplifying RF development and decreasing time-to-market for connected device manufacturers.
A standards development organization dedicated to advancing the smart home and Z-Wave Technology, the Z-Wave Alliance has announced that Trident IoT will be a direct supplier of Z-Wave silicon chips and modules, offering product design and development services. According...
Partnership for Priority Verified Alarm Response announces 2023 board members
August 14, 2023SSN Staff
FRESNO, Calif. – The Partnership for Priority Verified Alarm Response (PPVAR), an organization promoting the value of verification and validation of alarm events during the emergency response process, just announced its new board president and secretary for the 2023-2024 term.
According to the PPVAR the president for the 2023-2024 term will be Mark McCall, the director of global Operations for IMMIX. The secretary role is set to be filled by Kristy Johnson, director of integrations at ADT.
McCall...
Sunny Disposition
August 9, 2023Ken Showers, Managing Editor
I woke up to some awfully big news today in the security world as ADT announced the divestiture of its commercial business.
If one of you, dear readers, had an inkling about this occurring before it did, I’d like to know your sources, or at least have you pick some lottery numbers for me. When I read about divestiture it normally tracks pretty easily for me. For example, when Securitas dropped its Argentinean holdings, I wasn’t shocked. They had been facing a tough economic situation...