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George R. Oliver

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Johnson Controls shows ‘great momentum and a clear focus’ in Q1, Oliver says

February 12, 2025Cory Harris, Editor

CORK, Ireland—With a leadership change on the horizon, Johnson Controls International (JCI) reported strong numbers in fiscal Q1 2025, which certainly pleased outgoing Chairman and CEO George Oliver.   Sales in the quarter of $5.4 billion increased 4% over the prior year on an as reported basis and 10% organically. Q1 Generally Accepted Accounting Principles (GAAP) earnings per share (EPS) were $0.55, with an adjusted EPS of $0.64.  "Johnson Controls is starting...

building solutions, Generally Accepted Accounting Principles (GAAP), George Oliver, Joakim Weidemanis, Johnson Controls (JCI)


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Vimal Kapur

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Honeywell details company restructuring

February 12, 2025Cory Harris, Editor

CHARLOTTE, N.C.—Honeywell’s Q4 and full-year 2024 results met or exceeded updated guidance, but during a recent conference call, that performance took a back seat to the announcement of a companywide restructuring.   During the call on Feb. 6, the company announced it intends to separate its Automation and Aerospace Technologies business units as part of a comprehensive portfolio evaluation that was launched a year ago by Chairman and CEO Vimal Kapur and was recently completed....

Honeywell, Honeywell Advanced Materials, Honeywell Aerospace Technologies, Honeywell Automation, Vimal Kapur


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Vimal Kapur

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Honeywell announces creation of three separate companies

February 6, 2025SSN Staff

CHARLOTTE, N.C.—Honeywell has announced the completion of a comprehensive business portfolio evaluation launched a year ago by Chairman and CEO Vimal Kapur and intends to pursue a full separation of Automation and Aerospace Technologies. The planned separation, coupled with the previously announced plan to spin Advanced Materials, will result in three publicly listed companies with distinct strategies and growth drivers. The separation is intended to be completed in the second...

Carrier Global Corp., Elliott Management, Honeywell, Honeywell Advanced Materials, Honeywell Aerospace Technologies, Honeywell Automation, Jesse Cohn, Marc Steinberg, Vimal Kapur


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Joakim Weidemanis

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Johnson Controls announces Joakim Weidemanis as next CEO

February 6, 2025SSN Staff

CORK, Ireland—Johnson Controls, a global provider of smart, healthy and sustainable buildings, announced that its Board of Directors has appointed Joakim Weidemanis as chief executive officer (CEO), effective March 12, 2025. Weidemanis succeeds George R. Oliver following a thorough succession planning process. Oliver, who led the company’s successful transformation into a pure-play building solutions provider, will continue to serve as non-executive chairman of the board until July...

ABB, Danaher Corp., George R. Oliver, Joakim Weidemanis, Johnson Controls (JCI), Jurgen Tinggren, Mark P. Vergnano, Mettler Toledo


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NAPCO’s Q2 a mixed bag

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NAPCO’s Q2 a mixed bag

February 5, 2025Ken Showers, Managing Editor

AMITYVILLE, N.Y. — NAPCO Security Technologies' financial results for the second quarter of fiscal 2025 revealed a healthy recurring service revenue (RSR) but also several setbacks due to bad timing.  The company’s financial results at a glance: Net sales of $43 million, a decrease of 9.7% year over year; and RSR of $21.2 million, a 14.4% increase, and gross profit margin of 57% vs. 52.6%, both compared to the prior quarter.  “This quarter yielded mixed...

NAPCO, NAPCO Security Technologies, Recurring service revenue (RSR), Richard Soloway, Second Quarter (Q2)


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ICT logo

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Integrated Control Technology (ICT) announces Andy Bane as new CEO

February 3, 2025SSN Staff

CENTENNIAL, Colo.—Integrated Control Technology (ICT), a manufacturer of intelligent access control and security solutions, has announced the appointment of Andy Bane as chief executive officer (CEO). Bane succeeds ICT founder and former CEO Hayden Burr, who will transition to the role of chief innovation officer. By investing in the future, ICT is positioning itself to drive greater value, create new opportunities, and strengthen relationships worldwide, the company stated in its announcement....

ABB Enterprise Software, Andy Bane, Element, Hayden Burr, Integrated Control Technology (ICT), Ventyx


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Nico Delvaux

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ASSA ABLOY acquires U.S.-based InVue

January 29, 2025SSN Staff

STOCKHOLM—ASSA ABLOY recently announced the acquisition of InVue, a U.S.-based provider of precision-engineered connected asset protection and access control solutions. InVue enables tailor-made security solutions to a broad spectrum of industries and retailers. The company was founded in 1986 and has some 260 employees, with its main office located in Charlotte, N.C. "I am very pleased to welcome the InVue team to ASSA ABLOY. This acquisition delivers on our strategy to grow our...

Assa Abloy, InVue, Nico Delvaux, Stephanie Ordan


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Adam and Jeff Groom

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Acre Security buys REKS to overlay generative AI on access control data

January 13, 2025Cory Harris, Editor

YARMOUTH, Maine—Acre Security recently acquired a generative AI solution with a name, REKS, that itself was generative AI produced and whose creators, brothers Adam and Jeff Groom, are confident will change the entire landscape of access control.   Adam Groom defines REKS as a solution to a problem that he believes has been industry wide for about two decades: How to make it very easy for an operator - whether it's an integrator or an end user – to interact with their...

acre security, Adam Groom, AI Development Team, Jeff Groom, REKS


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Nico Delvaux

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ASSA ABLOY acquires 3millID and Third Millennium

January 8, 2025SSN Staff

STOCKHOLM—ASSA ABLOY announced it has signed an agreement to acquire 3millID and Third Millennium, companies that provide readers and credentials for physical access control based in the U.S. and U.K. Founded in 2015 and headquartered in Highlands Ranch, Colo., 3millID is a solutions provider of proprietary access control readers and technology-enabled products to enterprise end customers in North America. Third Millennium, founded in 1996 and based in Wales, U.K., is a provider of...

3milliD, Assa Abloy, Björn Lidefelt, Nico Delvaux, Third Millennium


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Darren Learmonth

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acre security acquires REKS

January 6, 2025SSN Staff

PLANO, Texas—Acre security, a global provider of cutting-edge security platforms, has announced the acquisition of REKS, a transformative purpose-built, generative AI solution designed for access control environments. This strategic deal marks a significant step forward in acre’s mission to drive innovation and redefine the future of security technology, the company said in its announcement. Developed by Adam and Jeff Groom — who now join acre to drive its newly established...

acre security, Adam Groom, Darren Learmonth, Jeff Groom, REKS


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