Tag: solar
ADT Q3 gains driven by strong retention, divestiture of commercial business
November 7, 2023SSN Staff
BOCA RATON, Fla. – ADT is reporting a significant improvement to its balance sheet in its third fiscal quarter, thanks to the divestiture of its former commercial division, as well as strong retention numbers and revenue from Consumers and Small Business (CSB).
A list of financial highlights from the quarter include total revenue of $1.2 billion with end-of-period recurring monthly revenue (RMR) up 3% to $350 million, high customer retention with gross revenue attrition maintaining 12.9%,...
Hikvision extends solar-powered kit offering
September 25, 2023SSN Staff
CITY OF INDUSTRY, Calif. – Hikvision, manufacturer and supplier of security products and solutions, has introduced the 4 MP Motorized Varifocal Bullet Solar Wireless Camera Kit (DS-2XS6A47G1-IZS/C36S80) and the 4 MP License Plate Recognition (LPR) Bullet Solar Power Network Camera Kit (DS-2XS6A47G1/P-IZS/C36S80).
Both solar additions have spectacular features according to Hikvision, which provide security for users anytime, anywhere there is no power supply, internet wiring, or a high cost...
SSN News Poll: uncertainty surrounds ADT sale
September 15, 2023Ken Showers, Managing Editor
YARMOUTH, Maine – Last month, ADT made the decision to sell its commercial business, and Security Systems News (SSN) asked readers to chime in and show how that decision is being received.
From interviews at GSX this week, ADT Commercial has made it clear that its excited about the sale, upcoming name change that has yet to be revealed, and the future potential of the company. The readers' response to the decision by parent company ADT to focus on residential, however, was...
Sunny Disposition
August 9, 2023Ken Showers, Managing Editor
I woke up to some awfully big news today in the security world as ADT announced the divestiture of its commercial business.
If one of you, dear readers, had an inkling about this occurring before it did, I’d like to know your sources, or at least have you pick some lottery numbers for me. When I read about divestiture it normally tracks pretty easily for me. For example, when Securitas dropped its Argentinean holdings, I wasn’t shocked. They had been facing a tough economic situation...
'Exciting road ahead' as ADT doubles down on residential, small business
August 8, 2023Ken Showers, Managing Editor
BOCA RATON, Fla. – ADT shook things up by preempting its second fiscal quarter 2023 earnings call with the news that the company is divesting itself of its commercial business.
As reported earlier by Security Systems News the company has entered into a definitive agreement to sell its commercial security, fire and life safety business unit to private equity firm GTCR for a purchase price of $1.6 billion. The transaction has been approved by the company’s board of directors and is expected...
ADT Q4 sees record-high retention, recurring monthly revenue
March 1, 2023Ken Showers, Managing Editor
BOCA RATON, Fl. – ADT Inc. has seen its fourth consecutive financial quarter results hit record highs as the company released its results on Feb. 28.
Of note the company pulled in a Q4 total revenue of $1.6 billion, up 19 percent from last year, 8 percent when excluding solar and end-of-period recurring monthly revenues. ADT also boasted record-high customer retention with a gross customer revenue attrition rate of 12.5 percent. The company’s total revenue was...
Alarm.com integrates Kohler/Phyn water monitoring solutions to platform
October 5, 2022SSN Staff
KOHLER, Wis. and LOS ANGELES – Bath and kitchen product innovator Kohler joined with Phyn, a leader in intelligent water solutions, to provide their suite of home monitoring solutions to the Alarm.com platform.
Kohler and Phyn say the integration make it easier for customers to track their water consumption identifying areas of excess use, and track leaks in real time to help conserve money and resources.
"We are very excited to offer Kohler's new H2Wise solution as an option for...
This Blog's on Fire (And Other Stuff)
Vivint Solar seeks to raise $200m through IPO
September 3, 2014Tess Nacelewicz
The fact that Vivint Solar officially filed with U.S. regulators last week for an initial public offering of common stock is an indication that solar continues to be a hot option for security companies.
Vivint Solar's parent company is Provo, Utah-based home automation/home security company Vivint, which was bought by The Blackstone Group in 2012 for more than $2 billion.
Now, Reuters reported Aug. 26, Vivint Solar has filed for an IPO and set its fundraising target at about $200 million....
Protection 1 adding solar to its mix
August 8, 2014SSN Staff
ROMEOVILLE, Ill.—Protection 1, based here, is joining the trend of security companies selling solar, the company has announced.
Protection 1, one of the nation's largest home and commercial security companies with almost 2 million customers, announced in an Aug. 8 news release that it will “launch Brite Energy, powered by Protection 1 and backed by private equity firm GTCR.” Chicago-based GTCR bought Protection 1 in 2010.
Protection 1 is expected to begin selling solar...