Tag: Jim DeVries

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...

BOCA RATON, Fla.—Smart home and small business security provider ADT released its second-quarter results today during an earnings call, with strong growth indicators and optimism for the third and fourth quarters. The tone of the call was positive focusing on yearly gains and a positive look at financial outcomes for the rest of 2022. “We delivered what I believe is our best quarter ever at ADT,” said ADT President and CEO Jim DeVries. A snapshot of the financials shows a...

BOCA RATON, Fla.—ADT Inc., the most trusted brand in smart home and small business security, today published its 2021 environmental, social and governance (ESG) report detailing the steps the company has taken to advance its ESG program. “Respecting the environment, promoting social responsibility and leading with responsible governance are fundamental to who ADT is and guide our safe, smart and sustainable business practices,” said ADT President and CEO Jim DeVries....

BOCA RATON, Fla.—ADT Inc., the most trusted brand in smart home and small business security, has reported results for the fourth quarter and full year 2021. FOURTH QUARTER 2021 (variances on a year-over-year basis) Total revenue of $1.4 billion, up 5 percent End-of-period RMR (recurring monthly revenue) of $359 million, up 5 percent Sequential and year-over-year net subscriber growth; total subscribers of 6.6 million Customer retention with gross customer revenue...

BOCA RATON, Fla.—ADT Inc., the most trusted brand in smart home and small business security, announced it has completed its acquisition of Sunpro Solar. With the acquisition of Sunpro Solar, ADT is introducing ADT Solar, which will provide customers with rooftop solar and energy storage solutions to increase their energy independence and help them save money on their energy expenses. Sunpro currently operates in 22 states, and ADT Solar plans to expand to more markets across the U.S.  “The...

BOCA RATON, Fla.—ADT Inc. reported results for the third quarter of 2021, highlighted by increasing revenue, subscribers, end-of-period RMR and a strong commercial rebound. ADT's operational highlights announced for Q3 2021, versus the prior year, were: Monitoring and related services revenue increased 5 percent Gross recurring monthly revenue (RMR) additions grew 7 percent in the third quarter, 19 percent year-to-date End-of-period RMR of $356 million increased by...

BOCA RATON, Fla.—ADT announced an agreement to acquire Sunpro Solar, one of the largest residential rooftop solar contractors in the U.S., for $160 million in cash plus approximately 77.8 million shares of ADT common stock, implying a total enterprise value of approximately $825 million. ADT will rebrand Sunpro to “ADT Solar” and enter the rooftop solar business to offer ADT customers a protected, connected, and now powered home. “With its strong focus on the customer,...

BOCA RATON, Fla. —ADT Inc., the most trusted brand in smart home and small business security, has reported results for the second quarter of 2021. Among the operational highlights announced for Q2 2021 were: • Gross recurring monthly revenue (RMR) additions grew 28 percent • End-of-period RMR of $352 million increased by 4 percent • Solid customer retention with attrition at 13.3 percent • Commercial recovery continues with improved year-over-year results •...

BOCA RATON, Fla.—ADT Inc. announced several changes to its leadership, starting with the retirement of Jim Boyce, president, chief business development officer, effective May 31, 2021. The company also announced its Q1 financial results, showing continued recovery and growth and the commercial side of the business. Leadership Changes The company is grateful for Boyce’s leadership, wisdom and dedication, and for his many contributions as CEO of Defenders and its successful integration...

BOCA RATON, Fla.—ADT is developing a solution for the home security industry’s need to adapt to the 3G sunset, which is scheduled for February 2022. Through a strategic partnership with technology startup CellBounce, ADT anticipates a user-installed, plug-and-play solution for the 3G-to-4G conversion will be ready by late summer 2020.The technology and product could apply to most of the 6 million 3G-powered home security systems in the United States.“We believe CellBounce is the most cost-effective...