Residential
Parks’ 25th annual CONNECTIONS conference sheds light on smart home
November 19, 2021SSN Staff
DALLAS—Parks Associates recently hosted its 25th annual CONNECTIONS: The Premier Connected Home Conference in a virtual format, featuring new research on app usage, smart home platforms, new partnerships, and the expanded integration between various product ecosystems.
The event, sponsored by Alarm.com, Calix, Cox Communications, SmartRent, Xfinity Home, Bitdefender, Johnson Controls, Notion, Tuya, Ayla Networks, Plume, and Airties, addressed privacy and security issues, UI preferences,...
ADT reports third quarter 2021 results
November 10, 2021SSN Staff
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...
ADT buys Sunpro Solar, launches ADT Solar to expand home offerings
November 9, 2021SSN Staff
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,...
CEDIA names Daryl Friedman as Global President and CEO
October 21, 2021SSN Staff
FISHERS, Ind.—CEDIA, the global trade association for the home technology industry, has named Daryl Friedman as Global President and CEO. He will assume the role on Nov. 29, 2021.
Friedman has spent more than 30 years in nonprofit leadership roles, having overseen membership, advocacy, industry relations, and the technical wing for the 25,000-member Recording Academy. The Academy, known globally for the GRAMMY Awards, is the association representing technical and creative professionals in...
Nortek Security & Control acquired by Nice for $285 million
October 5, 2021SSN Staff
ODERZO, Italy—Nice, a global manufacturer of Smart Home, Security, and Home & Building Automation solutions, announced today it has acquired Nortek Security & Control, LLC from Melrose Industries. The transaction, valued at $285 million, is the largest investment to date by Nice. Click here for an exclusive Q&A with Luca Longhin, Deputy CEO of Nice Group USA and Nortek Control.
“This acquisition reinforces our strong commitment to North America and significantly expands our global...
Redfin partners with ADT to expand Direct Access home tours to 22 markets
October 5, 2021SSN Staff
SEATTLE—Redfin, a technology-powered real estate company, has announced a nationwide rollout of Direct Access, which lets homebuyers self-tour vacant Redfin-listed homes with or without an agent, using the Redfin app to unlock the door.
In addition, Redfin announced it has partnered with ADT, a leading provider of security and smart home solutions, to provide 24/7 security monitoring for Direct Access homes. ADT will equip Direct Access homes with smart locks and sensors that allow buyers...
Ring partners with Home Depot, unveils solutions for alarm pros
September 29, 2021SSN Staff
HAWTHORNE, Calif.—Ring announced an exclusive partnership to help support alarm professionals as well as several new home security devices, features and services recently, from robotics to connectivity to computer vision.
Ring’s exclusive collaboration with The Home Depot uses custom Ring home security products and services to provide builders with an affordable, customizable solution to protect job sites big and small.
“We’ve seen how effective Ring devices can be in...
Acoustic Design Systems’ growth reflects strong Las Vegas market
September 15, 2021Paul Ragusa, Editor
LAS VEGAS—Acoustic Design Systems (ADS), a commercial and residential home automation and security solutions provider based here, is experiencing phenomenal growth, more than doubling in size and posting impressive revenue numbers in the past year.
“We have doubled our work force from the beginning of 2020 until now, from 30 employees to more than 60,” ADS Founder and CEO Christopher Sterle told Security Systems News.” In 2020, we increased our revenue by 27 percent.”
He...
Alula launches a builder program for smart home dealers
August 25, 2021SSN Staff
ST. PAUL, Minn.—Alula, the leader in smart security and automation systems for professional installers, today launched its Builder Program, a program for professional smart home security integrators who work with residential homebuilders.
Alula said the the program provides the flexibility and cost structure alarm dealers and residential integrators need to grow their business, while delivering the technology new homebuyers demand.
"Throughout the creation of this program we talked to...
ADT reports second quarter 2021 results
August 6, 2021SSN Staff
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
•...