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Tag: Jay Geldmacher


Snap One acquisition completed by Resideo

Residential

Snap One acquisition completed by Resideo

June 17, 2024SSN Staff

SCOTTSDALE, Ariz. — Resideo Technologies, Inc. announced that it has completed the acquisition of Snap One, a provider of smart-living products, services, and software to professional integrators. Resideo said it will integrate Snap One into its ADI Global Distribution segment. Together, ADI and Snap One will provide integrators with an increased selection of both third-party products and proprietary offerings through an extensive physical branch footprint augmented by digital capabilities. The...

ADI Global Distribution, integrators, Jay Geldmacher, John Stroup, Nate Sleeper, Resideo Technologies, Snap One


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‘No stone unturned’ as Resideo seeks value from acquisition

Residential

‘No stone unturned’ as Resideo seeks value from acquisition

May 8, 2024Ken Showers, Managing Editor

SCOTTSDALE, Ariz. – Resideo Technologies’ recent acquisition of Snap One provided a nice layup for company executives to talk about the impact on the company’s financial performance during a recent conference call.  Resideo President and CEO Jay Geldmacher told investors on the call that Resideo had identified meaningful cost synergies between ADI and Snap One.  “Needless to say, the team is quite excited about the future integration of Snap One into Resideo,...

Access Control, ADI Global Distribution, Jay Geldmacher, Residential Security, Resideo Technologies, Snap One


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Resideo acquiring Snap One for $1.4 billion

Residential

Resideo acquiring Snap One for $1.4 billion

April 15, 2024SSN Staff

SCOTTSDALE, Ariz., and CHARLOTTE, N.C. – Resideo Technologies has agreed to acquire Snap One Holdings for $10.75 per share in cash, for a transaction value of approximately $1.4 billion, inclusive of net debt. Upon closing, Snap One will integrate into Resideo's ADI Global Distribution business. “The acquisition of Snap One is an exciting step in Resideo’s continued transformation through portfolio optimization, operational enhancements and structural cost savings actions,”...

ADI, Jay Geldmacher, John Heyman, Mergers & Acquisitions, Resideo Technologies, Security Systems News (SSN), Snap One


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Resideo uses 2023 momentum to pivot in first earnings report of 2024

Residential

Resideo uses 2023 momentum to pivot in 2024

February 14, 2024Ken Showers, Managing Editor

SCOTTSDALE, Ariz. – Resideo Technologies exited 2023 with a strong Q4, and now it's riding that momentum into 2024, making some significant changes to reshape its portfolio and operations. Among the highlights for the year, Resideo saw revenue of $6.2 billion for 2023, an adjusted EBITDA of $552 million, and $440 million in cash from operations. Its report noted that the company improved business execution in the second half of the year with products and solutions transformation...

2023, 2024, ADT, Fourth Quarter (Q4), Genesis Cable, Jay Geldmacher, Resideo Technologies, Tony Trunzo


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Monitoring Matters

Cupid de Locke

February 14, 2024Ken Showers, Managing Editor

It’s Valentine's Day and I’d love to mention that I have a sweetheart of a topic to share this week, but I’m sorry to say it’s left me a little brokenhearted. Since the beginning of February, I’ve been watching a lot of Q4 2023 reports roll out and while we can still safely call it the year of AI, it’s also the year of the residential security market falling flat on its face. I talked about this a bit in my last blog post where I discussed ADT...

ADT, Assa Abloy, Jay Geldmacher, Residential Security, Resideo


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Resideo reveals Q4 and 2023 results release date

January 29, 2024SSN Staff

SCOTTSDALE – Resideo Technologies, Inc., a global provider of home comfort, life safety and security solutions, and distributor of commercial and residential security and audio-visual products, will release its fourth quarter (Q4) and full-year 2023 financial results on Tuesday, Feb. 13, 2024. A conference call and simultaneous webcast to discuss the results will be held on Tuesday, Feb. 13, at 5:00 p.m. ET. Interested investors and other parties can listen to a webcast of the...

2023, Fourth Quarter (Q4), Jay Geldmacher, life safety, Residential Security, Resideo Technologies


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Resideo announces Q3 2023 financial results

November 6, 2023SSN Staff

SCOTTSDALE, AZ – Resideo Technologies has produced its financial results for the third quarter ended Sept. 30, 2023. Highlights from the quarter include a net revenue of $1.55 billion compared to $1.62 billion in the third quarter 2022, and income from operations of $109 million, including restructuring charges of $38 million, compared to $155 million in the third quarter 2022. A fully diluted GAAP EPS of $0.14 and non-GAAP EPS of $0.41 compared to GAAP EPS of $0.42 and non-GAAP EPS...

Conference, Financial Results, Jay Geldmacher, NYSE, Resideo Technologies


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Resideo completes sale of Genesis Cable business

October 16, 2023SSN Staff

SCOTTSDALE, AZ – Resideo Technologies announced the completion of the previously announced sale of its Genesis Cable business to Southwire Company, LLC for $87.5 million in cash, subject to customary purchase price adjustments. The after-tax proceeds will be used to support Resideo's capital allocation strategy the company wrote in a release. That includes ongoing organic and inorganic investments and their recently announced share repurchase program. "The closing of the Genesis...

commercial, Genesis Cable, Jay Geldmacher, Residential, Resideo Technologies, Security, Southwire Company


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Resideo Q1 results up 3% year-over-year, softness in residential market

Residential

Resideo Q1 results up 3% year-over-year, softness in residential market

May 4, 2023Ken Showers, Managing Editor

SCOTTSDALE, Ariz. – Commercial and residential distributor of security and audio-visual products Resideo presented a positive first quarter earnings call with modest gains. Quarter highlights include a net revenue of $1.62 billion, up 8 percent from $1.5 billion in the third quarter 2021. Other financial indicators were also positive although the failed to reach the same heights as previous quarters with a gross profit margin of 26.6 percent, compared to 28.1 percent in the prior year comparable...

AI-based, Audio-Visual, commercial, Distributor, First Alert, First Quarter (Q1), HPC-r, Jay Geldmacher, Residential, Resideo, Security, VX1


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Resideo acquires BTX Technologies

Residential

Resideo acquires BTX Technologies

March 13, 2023SSN Staff

SCOTTSDALE, Ariz. – Resideo Technologies, Inc. has announced the completion of its acquisition of BTX Technologies, Inc., a privately held distributor. Based in Hawthorne, N.Y., and founded in 1967, BTX is described as a leading distributor of professional audio, video, and data communications and broadcast equipment. BTX additionally offers a private brand portfolio, including the BookIT Room Scheduling Solution, which holds several patents for connectivity products and provides manufacturing...

ADI Global Distribution, BookIT Room Scheduling Solution, BTX Technologies, commercial and residential security, data communications, Distributor, Jay Geldmacher, Mergers & Acquisitions, Resideo Technologies, Rob Aarnes


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