Tag: The ADT Corp.
ADT names new CMO
March 25, 2014SSN Staff
BOCA RATON, Fla.—The ADT Corp. announced today that Jerri DeVard has joined the company as senior vice president, chief marketing officer. DeVard, who most recently served as EVP, CMO of Nokia, starts her new job on March 31 and will report directly to Naren Gursahaney, ADT's president and CEO, the company said.
In her new role, DeVard will lead ADT's marketing efforts across the residential, small business, and health business units. According to the company, she will oversee all strategic,...
ADT releases Q1 results—and stock price drops
January 30, 2014Tess Nacelewicz
BOCA RATON, Fla.—The ADT Corp. reported Jan. 30 that ADT Pulse take rates and recurring revenue were up in its latest quarter. But customer growth was below expectations in Q1 and net income decreased 27 percent in that period—and ADT's share price tumbled.Still, company CEO Naren Gursahaney said ADT is taking steps to ensure future growth—such as making improvements to its dealer program and lead generation process; the introduction of a new mobile security app, ADT Canopy; and...
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ADT working to 'stabilize' dealer program
December 11, 2013Tess Nacelewicz
ADT officials weren't available for comment when I wrote recently about an industry's analyst's report on how ADT had “culled” about 100 low-performing companies in order to improve its dealer program over the past year.
But in an ADT investor call last Friday, Alan Ferber, president of ADT's residential business unit, confirmed much of what the analyst, Jeff Kessler, Imperial Capital's managing director of institutional research, had said. Ferber also outlined ways ADT is working to...
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ADT partners with State Farm to promote Pulse
December 3, 2013Tess Nacelewicz
Security companies often use as a selling point the fact that insurance companies give discounts to homeowners who have a security system. But ADT announced this week that it is leveraging that insurance company relationship in a new way: by partnering with State Farm to give that leading insurer's customers special deals on Pulse. And the customers who get Pulse can also end up with a discount on their State Farm home insurance.
Seems like a pretty smart way to get customers to sign up for a smart...
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One of ADT's largest shareholders sells most of its stake
November 26, 2013Tess Nacelewicz
The ADT Corp. reported yesterday that it was buying back 10.24 million of the shares of its third-largest shareholder, Corvex Management. Keith Meister, the hedge fund's founder, who had been on ADT's board since late 2012, also announced his resignation as director.
ADT's stock price plunged early yesterday morning shortly after the news and while it recovered somewhat, was still down .59 percent this afternoon.
Meister said in a prepared statement, “We initially invested in ADT because of...
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ADT adds 100,000 customers in fiscal 2013 and its Devcon buy boosts its RMR, but attrition climbs to 13.9 percent
November 20, 2013Tess Nacelewicz
Just about one year after The ADT Corp. split from Tyco International and became a stand-alone, publicly traded company, the company reported today that its RMR climbed 4.7 percent in Q4 and that the rise was helped by its acquisition of Devcon Security this summer.
Boca Raton, Fla.-based ADT, which officially became independent Sept. 28, 2012, reported its Q4 and fiscal year 2013 results today. It added 100,000 subscribers in 2013, bringing its total customer based to 6.5 million, the company said.
ADT...
ADT sues Vision—again—over alleged deceptive sales practices
November 18, 2013Tess Nacelewicz
BOCA RATON, Fla.—Just months after settling one lawsuit with Utah-based Vision Security over what The ADT Corp. characterized as Vision's deceptive sales pitches, ADT announced today that it has filed a second lawsuit accusing Vision of similar practices.That latest filing seeks to prohibit sales representatives of Vision, a door-knocking company based in Orem, Utah, from using deceptive sales techniques, and to obtain further damages and attorney fees.The new lawsuit comes shortly after Vision...
Vision wages legal battle over negative posting on Ripoff Report
October 30, 2013Tess Nacelewicz
OREM, Utah—Vision Security, a summer-sales home security/home automation company here, is suing Ripoff Report, charging that the website is refusing to remove false and defamatory statements about Vision even after the author of the posting has since stated they aren't true. Also, Vision contends, Ripoff Report won't refute the comments unless Vision pays the site a fee.The lawsuit was filed earlier this month in federal court in Utah against XCentric Ventures, the Arizona-based content provider...
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What's with activist Ackman, ADT, Air Products—and J.C. Penney?
August 14, 2013Tess Nacelewicz
OK, there were enough rumors in early July about activist hedge-fund manager William Ackman planning to take a stake in The ADT Corp. that they caused ADT stock to temporarily skyrocket. But it turned out that Ackman instead had his sights set on industrial gas maker Air Products & Chemicals, of which he now is that company's biggest shareholder, owning 9.8 percent.
But perhaps that's good a thing for ADT, given the news yesterday that Ackman's failed two-year effort to remake traditional department...
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More on activist investor Ackman and ADT
July 17, 2013Tess Nacelewicz
There was additional speculation this week about whether activist hedge-fund manager William Ackman is intending to take a stake in The ADT Corp. An article in The New York Times said that his investing in the home security/home automation giant is more likely than his buying into FedEx, another company he is rumored to be considering.
The article said that's basically because Ackman would have less say in FedEx, a much larger company than ADT, where he could wield greater influence.
There's a possibility...