Tag: Residential
Essence Security partners with ASSA ABLOY division to bring solution to French security market
April 16, 2024SSN Staff
HERZLIYA, Israel – Essence Security, a part of the Essence Group, announced its collaboration with Point Fort Fichet, France’s leading locksmith network and a subsidiary of ASSA ABLOY.
The partnership aims to distribute and implement Essence’s MyShield connected smoke-generating intruder prevention solution across France. MyShield is available for private properties, retail establishments and small businesses.
The Essence Group believes that a rising amount of break-ins in...
2023 Q4 earnings call sees a slimmed-down ADT eyeing growth in 2024
February 28, 2024Ken Showers, Managing Editor
BOCA RATON, Fla. – Following a year fraught with challenges for most companies, ADT enters 2024 leaner and hungry as it refocuses on its core business.
On Feb. 28, 2024, ADT held its fourth quarter (Q4) 2023 earnings conference call to discuss both its financial results and its direction as it enters 2024 lighter after divesting itself of its commercial business and discontinuing its ADT Solar division.
ADT provided a number of highlights for both the quarter and the...
ASSA ABLOY sees strong performance in commercial, but residential still challenging
February 7, 2024Ken Showers, Managing Editor
STOCKHOLM – While ASSA ABLOY reported strong gains in its commercial business in the fourth quarter, there's a clear drag on profits in its residential business.
It was a strong quarter in many respects for the global manufacturing company, managing a total of six acquisitions in the quarter, and a record number of acquisitions for the year. Several of those acquisitions were in the South American market, where ASSA ABLOY President and CEO Nico Delvaux said the company continues...
ADT exits residential solar market
February 5, 2024SSN Staff
BOCA RATON, Fla. – ADT revealed late in January that the company would be exiting its residential solar business.
The company said it will remain focused on cash flow generation and capital-efficient growth within its core security and smart home business. As part of this continued focus, ADT is also advancing its capital allocation strategy, including a cash dividend increase and authorization of a new share repurchase program.
“The decision to exit solar operations was made after...
Goodbye, Mr. Sunshine
January 31, 2024Ken Showers, Managing Editor
After a week of being under the weather I could use a little sun to brighten my outlook. Unfortunately, following some news last week, that doesn’t seem to be in the cards.
I’ll get to that point in a moment, since it’s a little detour from normal security news. The actual news I wanted to discuss this week is the often discussed but still unreleased ADT smart home security system made in collaboration with Google. It so happened that my boss asked me earlier this week what was...
Ken Porpora departs ADT as CFO
January 5, 2024SSN Staff
BOCA RATON, Fla. – ADT’s Ken Porpora, executive vice president and chief financial officer (CFO), has stepped down from his role to become the chief executive officer of a privately held HVAC and plumbing services provider as of the beginning of January.
ADT made the announcement of Porpora’s departure in late December. For now, Jeff Likosar, president, corporate development and chief transformation officer, will serve as the interim CFO. Likosar previously served as the company’s...
Trust fall
November 29, 2023Ken Showers, Managing Editor
Do you trust tech companies to protect and secure your personal privacy? According to one survey, it appears that a majority of smart home technology users do.
Now I am writing this way too late into the evening, the post-holiday doldrums make for slow or quiet news weeks. So, while I’m brainstorming a topic for this week’s blog and sending some post witching hour emails, I began reading some survey data from an article. It’s not new data, the article is a few months old now,...
Boothe joins DMP as new dealer development manager
October 23, 2023SSN Staff
SPRINGFIELD, Mo. – DMP announced that Todd Boothe has joined the company as the dealer development manager for the Mid-Atlantic region.
DMP said that Boothe will provide ongoing service and support to DMP’s dealers across Maryland, North Carolina, Virginia and West Virginia. DMP is a family-owned independent manufacturer of intrusion, fire, access control and cellular alarm solutions.
In a release, the company stated that Boothe brings over 20 years of security...
Connected Technologies celebrates 15th anniversary
October 17, 2023SSN Staff
MONUMENT, Colo. – Connected Technologies is celebrating its 15th year in business – and has attributed its ongoing success and continually evolving product to listening to its dealers and bringing valuable services to their customers.
The business was co-founded in 2008 by Managing Partners Mike Simon and Dan Simon. The father-son team reportedly set out to develop an interface that would allow dealers to grow their recurring monthly revenue (RMR) while providing services to encompass...
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...