Tag: Resideo Technologies
ADI ready to 'Snap' into place
April 23, 2024Ken Showers, Managing Editor
MELVILLE, N.Y. – Resideo Technologies picked up Snap One Holdings on April 15 for $1.4 billion in a move that will combine the Control4 technology platforms of Resideo subsidiary ADI Global in the security market with Snap One's capabilities in the smart living market.
The deal is off to a great start: Moody’s Investor Service described it as “credit positive” and Snap One’s shares gained 29% following the announcement.
“The highly complementary...
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,”...
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...
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...
XTEN-AV secures strategic investment from Resideo Technologies
January 23, 2024SSN Staff
UNION CITY, Calif. – XTEN-AV, a provider of professional audio-visual design and proposal software, has announced it has received a minority investment from Resideo Technologies.
XTEN-AV said that this investment marks a significant milestone for the company and prepares it for expanded growth across the Pro AV industry. The company provides a collaborative software platform for integrators to conceptualize designs and streamline proposal processes.
"We continue to see Pro AV...
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...
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...
Resideo expands relationship with USAA to help homeowners
September 30, 2023SSN Staff
SCOTTSDALE, AZ – Resideo Technologies, a global manufacturer and developer of safety and security solutions, has been added to USAA's PERKS program to help its members protect against water damage and optimize home efficiency.
Resideo said that USAA members can purchase their Honeywell Home smart thermostat and its First Alert WiFi Water Leak & Freeze Detector at a discounted price through the PERKS program and eligible Homeowner policy holders can enroll those devices for a connected...
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...
Resideo announces Q3 2022 financial results
November 13, 2022SSN Staff
SCOTTSDALE, Ariz.—Resideo Technologies, Inc., a global provider of home comfort and security solutions and distributor of commercial and residential security and audio-visual products, has announced Q3 financial results ending Oct. 1, 2022.
Among the Q3 2022 highlights were:
Net revenue of $1.62 billion, up 8 percent from $1.5 billion in the third quarter 2021
Gross profit margin of 26.6 percent, compared to 28.1 percent in the prior year comparable period
Operating...