Tag: Google Nest

BOCA RATON, Fla.—Security giant ADT released its fiscal third quarter financial results this week, highlighting monthly revenue and partnerships. President and CEO Jim DeVries described ADT’s performance in the third fiscal quarter as strong with top line growth at 22 percent to $1.6 billion. It generated an adjusted net income of $83 million ($0.10 per share). DeVries also said the quarter resulted in an improved adjusted EBITDA that was up 12 percent year over year. In...

BOCA RATON, Fla. and BLOOMINGTON, Ill.—ADT has announced it will receive a $1.2 billion equity investment from State Farm, resulting in the home insurance provider owning approximately 15 percent of the company after the equity investment and the tender offer close.  This investment will allow State Farm to acquire 133.3 million shares of ADT’s common stock at $9 per share.  In addition, ADT plans to partner with State Farm and build upon its existing relationship...

The security business is in the midst of upheaval, with tech giants like Google and Amazon offering consumers the tools to set up and operate their own secure smart homes. And, the rise of IoT gadgets is further redefining the industry. However, if the last several decades serve as a guide, change and upheaval are the norm for security professionals. New technologies shift solutions and business models, and give both installing dealers and consumers new opportunities and experiences.Nest, Ring and...

What's the future normal for home security? According to an article from Business Insider, it's DIY and MIY, all from Silicon Valley giants Google and Apple along with telecom big names. What do you think? I speak to resi dealers five days a week. They tell me that DIY is often a selling point for them and that it works very well for some of their customers—especially in helping homeowners understand their systems better—but that MIY, on the other hand, is not beneficial. What happens...