Residential
Wayne Thorsen appointed to ADT EVP, chief business officer
January 9, 2023SSN Staff
BOCA RATON, Fla. – ADT announced that is has appointed Wayne Thorsen to the newly created role of executive vice president and chief business officer, effective immediately.
ADT stated that Thorsen will be responsible for leading the company’s product, innovation, and new business development teams. Thorsen comes to ADT from Google where he served as Vice President of Devices and Services Business Development. Thorsen has also held leadership roles at Viacom, Telefónica Digital,...
Kaadas launches expansion into North America
January 5, 2023SSN Staff
LAS VEGAS – Chinese smart lock brand Kaadas showcased its line of smart lock solutions at CES 2023 in launching its expansion into North America.
The Kaadas Group announced in a release that the rapidly growing company is adding employees throughout North America, and that Kaadas North America will be operating a warehouse in Southern California with a complete, full product showroom. The branch is set to offer traditional electronic locks as well as Wi-Fi, Bluetooth,...
ADT introduces self-setup with Google Nest products
January 3, 2023SSN Staff
LAS VEGAS – At the Consumer Electronics Show (CES), ADT introduced the ADT+ app as part of a new fully integrated product ecosystem.
According to ADT, customers will now be able to access and control their ADT devices more easily. That includes a base, keypad, motion sensors, door and window sensors, smart bulbs, smart locks and smoke/carbon monoxide detectors, as well as compatible Google Nest Cams, Doorbell and Thermostats, through, “…an intuitive app experience,” the...
Government funding bill includes $2.5M for U.S. Senate home security
December 20, 2022Ken Showers, Managing Editor
WASHINGTON, D.C. – Congress will be voting on the federal government's $1.7 trillion funding bill, the Consolidated Appropriations Act of 2023, and among its many expenditures is $2.5 million toward residential security for U.S. Senate members.
On page 1,137 of the nearly 4,200-page document, bill writers stated that, “For expenses of the Office of the Sergeant at Arms and Doorkeeper of the Senate, $171,844,000, of which $160,144,000 shall remain available until...
Eufy responds to allegations of insecure cameras, violation of privacy laws
December 8, 2022Ken Showers, Managing Editor
SEATTLE – Following weeks of accusations of insecure data streams and mishandled user data, Anker brand eufy has given its response.
Original allegations surfaced in a Nov. 21 tweet from Information Security Consultant Paul Moore, who inquired with the company why its home security cameras were uploading faces in his local storage to its servers unencrypted, and further why he was able to stream from his camera without authentication.
[email protected] - Couple of Q's
Why...
NRG Energy Inc. to acquire Vivint Smart Home Inc.
December 6, 2022SSN Staff
HOUSTON & PROVO, Utah – NRG Energy Inc. has entered into an agreement to acquire Vivint Smart Home Inc. for $12 per share, or $2.8 billion in cash.
NRG says the acquisition positions them as the leading essential home services provider and accelerates their growth plan. “Last year at our Investor Day, we presented our strategic roadmap to becoming the leading provider of essential services for homes and businesses, informed by consumer trends and underpinned by disciplined...
ASSA ABLOY completes sale of Emtek and Smart Residential toward HHI acquisition
December 2, 2022SSN Staff
YARMOUTH, Maine – On Dec. 2 ASSA ABLOY announced that it has entered into binding agreements with Fortune Brands Home & Security with regard to the sale of its Emtek and Smart Residential businesses.
Following ASSA ABLOY’s bid to acquire Spectrum Brands HHI (Home and Hardware Improvement) division, the U.S. Department of Justice (DoJ) filed an antitrust lawsuit to block it on Sept. 15, 2022. As part of efforts to clear a path for the acquisition ASSA ABLOY moved to divest...
Pyronix introduces new SmartHome products and features for HomeControl 2.0
December 1, 2022SSN Staff
ROTHERHAM, UK – Pyronix has announced new products in its SmartHome line and features for its HomeControl 2.0 app as part of its offering in the intruder alarm and smart home markets.
It’s thanks to HomeControl 2.0 that managing and controlling security systems is made that much easier and efficient according to Pyronix. “We’ve been working hard to develop a number of new products and features for HomeControl2.0 that offer our installers innovative solutions for boosting...
Alarm.com sees considerable revenue impact following Vivint arbitration filing
November 16, 2022Ken Showers, Managing Editor
TYSONS, Va. - Nov. 8 saw both Alarm.com and Vivint hold their Q3 earnings calls, but it’s Alarm.com that is left holding the short end of the stick as it has filed for arbitration against the latter.
The aftermath of the Q3 report saw Vivint’s stock surge 20% to close at $8.44 by days end. Alarm.com comparatively slipped in late October after an update provided on a licensing dispute with Vivint that will have a major impact for the company beginning in Q4 and continuing into the next...
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...