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by: Paul Ragusa - Wednesday, November 14, 2018

Security Systems News is excited to announce the education program for our TechSec Solutions conference, Feb. 25-26, 2019, in Delray Beach, Fla., at the Delray Beach Marriott.

This year’s TechSec Solutions’ theme—Securing a Connected World—looks at how new technologies are being used in real-life scenarios and how they are leveraged by security professionals—integrators, consultants, manufacturers and end users—to provide cost-efficient and highly effective security services and solutions, all for the betterment of the entire security industry. 

Last year, attendees gave the program strong marks, with 100 percent of attendees who completed our evaluation saying they “Would recommend TechSec to others” and “TechSec exceeded or met their expectations.”

Some of the highlights of this year’s program include two keynote speakers. On day one, Bill Bozeman, CEO and president, PSA Security, will deliver an Integrator State of the Union, giving a unique glimpse at the key technology trends impacting integrators and the industry today, while looking at which ones have the greatest potential and present the greatest challenges moving forward. And on day two, Rob Simopoulos, founder and president, Defendify, will present Cyber and Security: Together, a Shared Vision, looking at how physical and cybersecurity are coming together like never before, creating both challenges and opportunities.

In addition to two stellar keynotes, this year’s Mega Panel to start day two brings the CEOs from the industry’s two top associations together —Don Erickson of the Security Industry Association (SIA) and Merlin J. Guilbeau, CEO, Electronic Security Association Inc.—with keynote speaker Bozeman, head of the world’s largest system integration collaborative, to look at the current state of the industry, new trends and technologies that are impacting, disrupting and shaping the industry, and what the more successful companies are doing to stay relevant and profitable.

In support of this year’s theme, there are two sessions looking at “Securing a Connected World,” as well as sessions on securing, storing and leveraging data, and one on protecting critical infrastructure featuring Colby Meshey and James Ell from the Pentagon Force Protection Agency, who will join Kevin Didden, senior manager, Security Programs and Administration, MTA Bridges and Tunnels, and Joe Morgan, Business Development Manager for Critical Infrastructure, Axis Communications.

Plus, Gretchen Gordon, president and sales team transformation expert, Braveheart Sales Performance is presenting “How to Train and Retain a Tech-Savvy Sales Force” on day one. In this session, Gordon will explain how security companies, integrators and manufacturers can improve sales performance, giving attendees an effective strategy on hiring and retention, while showing them the importance of adapting to stay profitable and relevant.

And, as always, one of the highlights of the conference is the “20 under 40” Award Reception on the evening of day one, where this year’s class of 2018 winners will receive their awards and just have some fun by the pool. There will be several winners, both previous winners such as Simopoulos, and current winners, including TechSec Speakers Meshey (Pentagon), Didden (MTA) and Josh Cummings, director, Engineering Services, VTI Security, to name just a few.

All told, this year’s program has something for everyone. We hope to see you in Delray Beach Feb. 25-26.
 

by: Paul Ragusa - Wednesday, October 31, 2018

Pivot3, the hyperconverged infrastructure (HCI) performance and technology company based in Austin, Texas, announced that it experienced more than 50-percent growth in bookings in Q1-Q3 2018 over the same period in 2017, with significant growth among large enterprises and complex, mission-critical use cases.

With IT requiring automation and intelligence to manage increasingly complex workloads and multi-cloud environments, Pivot3 saw high demand for its hybrid cloud solutions. Pivot3 also experienced continued expansion with Internet of Things use cases, particularly with smart and safe city initiatives.

“Q3 2018 was remarkable for Pivot3, from our growth in sales and introduction of new products to the announcement of our global strategic partnership with Lenovo,” Ron Nash, CEO, Pivot3, said in the announcement. “Enterprises are demanding more from IT, and our growth indicates that the market is increasingly aware of Pivot3 and the power of our Intelligence Engine to simplify management at scale as well as deliver the security and resilience needed to support mission-critical workloads.”

Pivot3’s developments in Q3 2018 include:

•    More than 50-percent growth in bookings in Q1-Q3 2018 compared to the same period in 2017, with 86 percent of new bookings in Q3 comprising large enterprises.
•    A 95-percent increase in average deal size in Q3 2018 over the 2017 average.
•    Nearly 65 percent of 2018 sales to date have come from satisfied existing customers expanding their deployments to include multiple mixed workloads. Additionally, more than 70 percent of new customers deployed multiple mixed workloads on Pivot3’s platform, indicating that customers are increasingly—and repeatedly—relying on Pivot3’s Intelligence Engine to automate and manage multiple mission-critical applications on a single platform.
•    Continued adoption of its hybrid cloud solutions, representing more than 60 percent of new sales in Q3.
•    Named a Strong Performer in Hyperconverged Infrastructure in The Forrester Wave: Hyperconverged Infrastructure, Q3 2018. Pivot3 ranked within the top three vendors in the current offering category and achieved the highest scores possible for the criteria of built-in security, customer support options and quality of operations and support.
•    Announced a global strategic partnership with Lenovo to develop, market and sell solutions optimized for mission-critical smart city applications and use cases, both in the core datacenter and at the edge.
•    Continued growth of mission-critical smart city initiatives, including with the City of Bogotá, Colombia, which is deploying a highly efficient Lenovo/Pivot3 solution to achieve maximum infrastructure efficiency and scale as its surveillance needs grow.
•    Launched Intelligent Edge Command and Control, a new ruggedized and SWaP-optimized hybrid cloud solution to support sophisticated analytics, VDI and IoT use cases for defense, intelligence and other extreme operations at the “tactical edge.”
•    Released a new large-scale IoT solution designed to support mission-critical deployments of 500TB or more with greater resilience, scale and ease of use, fundamentally altering the economic equation for customers in large IoT data-capture scenarios.
•    A diverse range of new customers, including numerous military and federal agencies as well as local governments, a nuclear research facility, multiple educational institutions, a large manufacturing organization and a major sports and entertainment complex. The top industry verticals represented in Q3 sales include government, logistics and transportation, energy and utilities, hospitality, and education.
•    Certified its infrastructure solutions for mission-critical IoT, safe cities and smart building environments operating with Milestone Systems video management software. This allows organizations to gain access to infrastructure proven to deliver the performance, resilience and scale required in mission-critical environments.

“Pivot3 has led the industry in supporting mission-critical use cases where security, resilience and management simplicity are required at enterprise scale,” said Nash. “As customers turn to IT to solve their most pressing business challenges, automation, artificial intelligence and machine learning will become key drivers in enabling the next wave of enterprise-scale digital transformation. Pivot3 is positioned to support this evolution with a foundation of Hybrid Cloud and IoT solutions for the enterprise’s most critical environments.”

Mike Leone, senior analyst from Enterprise Strategy Group, said in the Pivot3 announcement, “IT organizations need new levels of automation in their infrastructure to provide the resiliency, availability and low latency required to support rapidly expanding volumes of data and the proliferation of applications and business services. The key to Pivot3’s differentiation in the HCI market lies in their Intelligence Engine, which delivers advanced resilience and security, and automates manageability at scale for customers’ most demanding workloads.”
 

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by: Paul Ragusa - Wednesday, October 24, 2018

The Security Industry Association (SIA) has identified and announced the 2019 Security Megatrends—the foundation of SIA’s signature yearly report defining the major trends and forces at play in the global security industry.

Forecasting of 2019’s top 10 Security Megatrends was based on survey data generated in September and October 2018 from top security industry business leaders, association leadership and key volunteers and speakers for Securing New Ground (SNG), the security industry’s executive conference, which is being held this week, Oct. 25-26, in New York City.

These trends—the top factors influencing both short- and long-term change in the global security industry—are expected to have sweeping impact on almost all businesses within the industry.

Cybersecurity was identified in the 2019 report as the standout trend shaping the security industry. By nearly 30 percentage points, industry leaders said cybersecurity’s impact on physical security solutions was the most impactful trend they were expecting to face in 2019. A resounding number of respondents also called for artificial intelligence (AI) to be recognized as a megatrend, noting that AI is becoming vital to supporting the heightened volume of data produced by modern security solutions.

Other new Security Megatrends emerging for 2019 include workforce development, the emphasis on data privacy, advancements in digital identity and the integration of security into smart environments like smart buildings and smart cities.

The 2019 Security Megatrends are:
•    Cybersecurity Impact on Physical Security
•    Internet of Things (IoT) and the Big Data Effect
•    Cloud Computing
•    Workforce Development
•    AI
•    Emphasis on Data Privacy
•    Move to Service Models
•    Security Integrated in Smart Environments
•    Advanced Digital Identities
•    Impact of Consumer Electronics Companies

“Today, modern physical security solutions are comprised of IoT devices and sensors that generate high volumes of security data. Applying analytics and artificial intelligence systems makes this data more actionable and increases responsiveness for security systems users,” SIA chairman of the board Scott Schafer said in the announcement. “Cybersecurity continues to be at the top of the list of the most important trends identified by security industry manufacturers, systems integrators, security practitioners, architects and engineers, and SIA will continue to address this trend over the next year and in the foreseeable future.”

In addition to defining the latest Security Megatrends, the forecast for 2019 also identifies other forces at play in the security industry that may have a noticeable impact on some or all businesses, and the research identifies three potential areas of business disruption the security industry may face in 2019.

The official 2019 Security Megatrends report will be published in late November 2018 and available online for download and/or purchase. The 2018 Security Megatrends report is currently available to all members and non-members.

Each year at SNG, senior-level industry leaders and financial partners gather, trends are spotted, connections are formed and minds are opened. In addition to highlighting these Security Megatrends, SNG 2018 will feature keynote remarks by Jerome Pickett, senior vice president and chief security officer at the National Basketball Association, and Valerie Thomas, executive information security consultant at Securicon, and panel discussions on topics like the shift from smart cities to conscious cities, harnessing cyber-physical security technologies and how the changing residential security market is staying nimble.
 

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by: Paul Ragusa - Wednesday, October 17, 2018

A new benchmarking study of the cybersecurity practices and initiatives of global organizations provides insight into the cyber landscape today and moving forward over the next few years. The study, called The Cybersecurity Imperitive, was produced in partnership with ESI ThoughtLab and WSJ Pro Cybersecurity and is sponsored by Security Industry Association (SIA) and several other partners.

“As validated by SIA’s just-released 2019 Security Megatrends—highlighting the top factors influencing both short- and long-term change in the global security industry—security companies see cybersecurity as the dominant trend shaping the industry,” SIA CEO Don Erickson said in an email announcing the study. “Having these clear benchmarks around cybersecurity not only facilitates the advancement of cybersecurity within your own organizations, but it also allows firms like yours to deliver appropriate solutions to your customers.”

One key finding in the study is that digital transformation is exposing companies to higher and more costly cyber risks. For example, those whose cybersecurity practices do not keep pace with their digital transformation initiatives are more likely to see $1 million or more in losses from cyberattacks. The research showed that cyber risks rise dramatically as companies embrace new technologies, adopt open platforms and tap ecosystems of partners and suppliers.

“Companies need to make sure that their cybersecurity programs keep pace with their digital transformation effort,” Lou Celi, CEO of ESI ThoughtLab and director of the study, said in the announcement. “Cybersecurity should not be an afterthought. It needs to be integrated into the fabric of an organization’s growth strategy.”

According to the study, there will be an increase in cyber-threat vectors by 2020, including:
•    Attacks through partners, customers and vendors (247% growth)
•    Supply chains (+146%)
•    Denial of service (+144%)
•    Apps (+85%)
•    Embedded systems (84%)

Surveyed companies see high risks from external threat actors, such as unsophisticated hackers (cited by 59% of firms), cybercriminals (57%) and social engineers (44%), but the greatest threat lies with untrained general staff (87%). Another 57 percent of firms see data sharing with partners and vendors as their main IT vulnerability. Nonetheless, only 17 percent of companies have made significant progress in training staff and partners on cybersecurity awareness.

The study also cites the leading cyber-threat vectors in 2018, which are:
•    Malware (81%)
•    Phishing (64%)
•    Ransomware (63%)
•    Viruses (62%)
•    Attacks from Apps (62%)

Another key finding is companies are boosting their cybersecurity investments. To cope with rising cyber risks, surveyed companies are increasing their cybersecurity investment by 7 percent this year and 14 percent next year. The biggest upsurge will come from platform companies, which are hiking their spending 59 percent this year and 64 percent next year. On average, companies with revenue between $250 million and $1 billion will spend $2.9 million next year; $1-5 billion ($5.7 million); $5-20 billion ($10.7 million); and $20 billion+ ($16.8 million).

According to the study, companies now use a variety of technologies to improve cybersecurity, such as multi-factor authentication (90%), blockchain (68%), Internet of Things (62%) and artificial intelligence (AI) (44%).

Security Systems News’ Class of 2017 “20 under 40” winner Ryan Fritts, CISO, ADT, said, "We are using AI in our access and entitlement management to analyze the behaviors of end-users and determine whether or not their behaviors are risky."

Over the next two years, studied firms indicated they plan to greatly expand the use of the following technology solutions:
•    Behavioral analytics (+1,735%)
•    Smart grid technologies (+831%)
•    Deception technology (+684%)
•    Hardware security and resilience (+114%)

The study also found that as corporate cybersecurity systems mature, the probability of costly cyberattacks declines. Cybersecurity beginners have a 21.1-percent probability of cyberattacks generating over $1 million in losses versus 16.1 percent for intermediates and 15.6 percent for leaders.

"Security is a holistic discipline. You need to manage both physical and cyber risks,” Joseph Gittens, SIA director of standards, and Cybersecurity Imperative study advisor, said in a prepared statement. “You could have the best physical security ever—guards, gates, guns and surveillance—but if someone can access your network from the comfort of their living room, it's not doing anything. The reverse is true as well. You could have a ton of cybersecurity but fail to lock down your physical space."
 

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by: Paul Ragusa - Wednesday, October 10, 2018

The Security Industry Association (SIA) has named industry veteran Edwina (Eddie) Reynolds, president and CEO of Iluminar Inc., as the 2018 recipient of the inaugural SIA Progress Award, an honor presented by SIA’s Women in Security Forum celebrating individuals who pave the way to success for women in the security industry. The award will be presented to Reynolds during SIA Honors Night on Wednesday, Nov. 14, in New York City, in conjunction with the ISC East conference and expo.

“I am truly humbled to be the first recipient of the SIA Progress Award, and I want to thank SIA for this incredible honor,” Reynolds said in the award announcement. “I have been working in the security industry for over 25 years, and while challenges still exist, the industry has made a lot of progress, and I am committed to continuing to advocate for more equality and more diversity across the field. As influencers, leaders and companies across the security industry have a greater focus on the advancement of women, I believe we can truly empower women to be leaders and agents of change in their respective fields and shift the narrative in our industry.”

Reynolds has been the founder and CEO of multiple established CCTV lighting companies. She began her security career as an account executive for U.K. integrator Chubb Fire & Security in the mid-1990s and went on to work for Pinkerton Security, Rainbow CCTV and Sony. From 2005 to 2008, Reynolds was the U.S. partner for a U.K.-based CCTV lighting company, and she founded Iluminar in 2009. Reynolds has led Iluminar to develop award-winning solutions and be the lighting solution partner for several market leaders. In 2018, she was appointed to the SIA Executive Council, where she works with other security leaders to launch initiatives that support the growth and advancement of the security industry at large.

“SIA is proud to present Eddie Reynolds with the first-ever SIA Progress Award for serving as a longtime advocate and role model for women in the security industry,” Don Erickson, SIA’s CEO, said in the announcement. “Mentorship and thought leadership are critical to helping women grow in this field, and we applaud Eddie for her dedicated involvement in the industry and contributing her expert insight, knowledge and advice.”

Reynolds has been a longtime supporter of initiatives to support the advancement of women and overall diversity in the security and technology industries. As part of these efforts, she traveled to the University of Arkansas on behalf of the International Organization of Black Security Executives in early 2018 to speak to students about career development skills and job opportunities within the industry.

Reynolds recently contributed to the first women-authored issue of SIA Technology Insights with an article on the importance of external illumination systems when lighting for video surveillance and will speak on a women’s panel at ISC West 2019, coming up April 10-12 in Las Vegas, Nev.

In addition to presenting the SIA Progress Award, SIA will honor industry leaders at Honors Night 2018 with the George R. Lippert Memorial Award, the Insightful Practitioner Award, the Jay Hauhn Excellence in Partnerships Award and the Women in Biometrics Award. SIA will also honor the 2018 recipients of the SIA RISE Scholarship and the inaugural Denis R. Hebert Identity Management Scholarship.

Editor’s Note: Security Systems News is excited but not surprised to see Reynolds honored in this way, as SSN featured her in our annual Women in Security issue in 2016. You can read the profile here. And speaking on women in security, if you know of a woman who is making a difference in the industry, we would love to highlight her in our December Women in Security issue. Emails can be sent to: pragusa@securitysystemsnews.com.
 

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by: Paul Ragusa - Wednesday, October 3, 2018

Brinks Home Security is teaming with Mission 500 for the company’s third annual Brinks Home Security 5K on Saturday, Oct. 13, 2018, in Farmers Branch, Texas. Desiree Linden, the fastest woman in the 2018 Boston Marathon, will join the event as a special guest. Organizers are hoping to top last year’s total of more than $35,000 to support children and communities in need throughout North Texas including those affected by Hurricane Florence.

For those who can’t attend the event, there is an option to sign up as a “virtual runner” with all proceeds to benefit Mission 500, a nonprofit organization that works closely with the security industry to serve the needs of children and communities in crisis.

“We’re proud that the Brinks Home Security 5K is becoming a signature event each fall,” Jeff Gardner, Brinks Home Security president and CEO said in the announcement. “We are especially excited that Des Linden will be running in this year’s race to help us make an impact in our community.”

The race is open to people of all ages. Participants can register now and find more information at brinkshomesecurity5k.com. Registration is $35 and cash prizes and trophies are planned for the top finishers in several categories.

Mission 500 is once again partnering with Brinks Home Security for this year’s event. Corporate sponsorships are available at the Platinum, Gold and Silver levels, and in-kind sponsorships (product donations) are also encouraged. Sponsor benefits include a table at the event, company logo on event marketing materials, verbal recognition, and the opportunity to increase the sponsor’s profile within the local community.

Corporate sponsors include Alarm.com and Cyber Group (Platinum); CDE Tech Solutions (Gold); KMPG, MFB Business Solutions, Northern Lights Direct, and USI Southwest (Silver); and SMB Suite (Bronze). In Kind sponsors include Alpha Graphics and Three Nations Brewery.

For more information on Mission 500 or on how to become involved in supporting Mission 500, contact Jeff Eichenlaub at jeichenlaub@mission500.org, or call 631-219-8728.

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by: SSN Staff - Wednesday, September 26, 2018

BOCA RATON, Fla.—ADT announced a new strategic initiative with Amazon where it will support integration of Amazon’s new Alexa Guard feature with the ADT Pulse security system.

Starting later this year, this partnership helps ADT customers enhance their home’s security capabilities by detecting specific sounds via the customer’s Echo device when they’re away from home, ADT said. Once available, ADT professional installation and monitoring solutions will be offered to customers through the Alexa Guard website and Amazon mobile app.

“In 2018, ADT set out to redefine security with innovative products and services, such as ADT Go and Digital Security. The integration of Amazon’s Alexa Guard with ADT’s Pulse security system and professional installation and security monitoring services is an exciting next step on our innovation roadmap and our successful collaboration with Amazon,” Jim DeVries, current president and incoming CEO of ADT, said in the announcement.

He continued, “Amazon’s vision to simplify the smart home experience through voice-enabled action matches perfectly with ADT’s passion for security and customer service, making us natural collaborators to ensure our customer’s smart home is a safe home. Today’s announcement will extend our footprint in the security and automation space, open new eCommerce sales and marketing channels for our products and services, and further expand our leadership in the category. We look forward to continuing to work alongside Amazon to provide innovative security solutions to our customers and broader audiences.”

ADT worked closely with Amazon to seamlessly integrate Alexa Guard with ADT’s Pulse security system and professional monitoring to enhance ADT customers’ security when they’re away from home. When a customer enables Alexa Guard on their Amazon Echo device and says “Alexa, I’m leaving,” Alexa will notify the customer if she detects the sound of smoke alarms, carbon monoxide alarms or breaking glass while the customer is away. These notifications, called Smart Alerts, are delivered to a customer’s smartphone to let them know which sound was detected, and provide an audio clip of that event. Customers with an ADT Pulse system using Alexa Guard can choose to forward Smart Alerts to ADT monitoring professionals to help determine if additional action should be taken, including dispatching first responders if needed.

“Customers love using Alexa to help make their daily lives easier, and we continue to build new voice-first experiences to make customers’ homes even smarter,” Daniel Rausch, VP, Amazon Alexa, said in the announcement. “ADT has over 140 years of experience in the professional security installation and monitoring business. We’re so excited to team up with them for the launch of Alexa Guard. Since ADT brought the simplicity of Alexa voice control to their home security systems, we’ve heard from customers that they enjoy the added convenience and peace of mind they have using the ADT Pulse skill. Now, with Alexa Guard we’re making that experience even better for customers. When Alexa Guard is enabled, customers can choose to have their Echo devices detect the sounds of smoke alarms, carbon monoxide alarms, or breaking glass when they’re away from home. When the selected sound is detected, customers with ADT Pulse will be able to forward their Smart Alerts to ADT, offering an extra layer of security.”

Later this year, ADT will offer new Echo devices directly to new and existing customers, assisting with product set-up and additional support for those who purchase the device through ADT. Additionally, ADT and Amazon are working together to provide offers and promotions to Amazon customers for ADT services and solutions, creating eCommerce opportunities for ADT while enabling customers to have enhanced home security options nationwide.

 

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by: Paul Ragusa - Wednesday, September 19, 2018

An estimated 7.7 million standalone and all-in-one networked/IP cameras will be sold in the U.S. in 2018, with $889 million in revenues, according to research from Parks Associates entitled Smart Product Market Assessment: Networked Cameras.

“Networked cameras have experienced a positive growth rate over the last year—2018 is expected to witness a roughly 11 percent increase in unit sales from the year prior,” Dina Abdelrazik, research analyst, Parks Associates, told Security Systems News. “Overall, the broadband household penetration rate is estimated at 9 percent in 2017 and is expected to nearly triple by 2023. Furthermore, the CAGR rate for all-in-one camera purchases from 2018 to 2023 is about 19 percent.”

Abdelrazik noted that advances in image recognition and ease of self-installation, combined with a strong user experience, “are driving increased adoption, with retail channels (online and in-store) starting to dominate sales,” she said. “IP cameras are key security-related devices and provide peace of mind to consumers. As such, these devices are consistently among the most popular smart home devices.”

While retail channels dominate (approximately two-thirds) in terms of channel purchase locations for consumers, security dealers were the next option, followed closely by “broadband service provider” and “direct from manufacturer.”

According to Parks’ findings, DIY cameras represent the majority of sales as these products are improving consumer experiences for installation, setup and usage. The good news for security dealers is that consumers still value recommendations and setup assistance, as 7 out of 10 consumers planning to buy a networked/IP camera would consider recommendations from an insurance or security company to be “important or very important,” according to Parks.

“Standalone IP cameras, video doorbells, and all-in-one cameras all provide an added layer of security for the home alongside security systems,” said Abdelrazik. “Security dealers have an opportunity to offer these products during their sales or installation processes to educate the consumer on the value of the device, as well as enhance the overall utility of the security system.”

She continued, “The attachment rate of video cameras and home control products to new security systems continues to climb, as does the incremental RMR from video services. Video provides unique value to consumers. Once consumers have the ability to check in to see a live view of their home from anywhere in the world, it is hard to give up that experience.”

Parks’ market assessment notes that voice integration and the development of AI as it relates to image and sound recognition will drive the next generation of networked cameras. For example, more than 80 percent of consumers who own or plan to buy a networked camera consider image or sound recognition abilities to identify safety and security events (like glass breaking or a person falling) to be appealing or very appealing, Parks found.

Looking forward, Abdelrazik said AI and the integration of voice control “will help drive further engagement with consumers, which will continue to drive positive consumer experiences. While consumer privacy concerns do exist with networked/IP cameras, we project double-digit growth for the IP camera market, as consumer familiarity rises, price points continue to drop, and millennials buy homes, acquire pets, and begin having families.”

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by: Paul Ragusa - Wednesday, September 12, 2018

This week Security Systems News reported on the sixth acquisition this year for both Convergint Technologies and ADS Security, two companies that have been very active this year on the M&A front, representing a continuing trend in this “year of the acquisition.”

It turns out that the M&A landscape overall is very strong and will continue to offer opportunities for companies looking to acquire and for companies looking to be acquired, according to Imperial Capital.

During his keynote presentation, Finance and the Future for Cloud and Security, at the Cloud+ conference (more coverage on this to come), Sept. 5-6, 2018, in Delray Beach, Fla., Rick Juarez, managing director, Imperial Capital, provided a rosy M&A picture for the industry today and moving forward.

He noted in his presentation that the security M&A market remains steady across all three major subsectors—physical security, identity solutions and information security—with strong activity seen in 2017 and YTD 2018.

“In terms of the overall health of the M&A market, if you are a young company looking to get acquired, or if you are a more mature company, the good news is that there is still a demand out there,” he explained, pointing to a slide showing 2018 ahead of the past five years in terms of M&A activity. “Going into the second quarter of this year, it is one of the strongest years for M&A, so I think that if you have a good solution, it is a good time to really explore an out, as it is not always going to remain like this.”

As is the case with companies like ADS and Convergint, acquisitions have helped the companies bring on more talent, increase capabilities and expand service capabilities and reach, while helping to grow the overall bottom line.

Convergint, for example, has strategically grown its service footprint across the United States, Canada, Europe and Asia Pacific through strong organic growth and the completion of 20 acquisitions since early 2016.

In terms of overall growth, Convergint's CEO Ken Lochiatto told SSN that Convergint will finish the year with strong organic growth in the mid-teens percentage-wise. “And if you take that along with the acquisition activity, we should be north of a billion dollars by year’s end, which is very exciting when you consider that we finished last year at $840 million.”
 

by: Paul Ragusa - Tuesday, September 4, 2018

BOCA RATON, Fla.—ADT announced today that Jim DeVries, currently president of ADT, will be promoted to chief executive officer to succeed Tim Whall, who will be retiring on Nov. 30, 2018 after a decades-long career in the security industry.

“I am honored to have the opportunity to lead this talented team as we continue to drive operational excellence with the customer as our true north,” Jim DeVries said in the announcement. “Together, we will execute our strategies to innovate the customer experience, enhance our service capabilities, and deliver value for all stakeholders. ADT, including our dealer partners, has an exciting future ahead and I am energized by the opportunity to further establish the Company as an innovative leader. I look forward to working closely with Tim to ensure a seamless transition.”

DeVries will be appointed to the company’s board of directors following the transition, and Whall will remain on the company’s board and serve as an advisor to the Company.

“The Company has strengthened its core operations and is successfully executing on its strategy, and both the Board and I believe that now is the right time to initiate this transition of leadership responsibilities,” Whall said in the announcement. “Jim DeVries has led many of the Company’s recent operational and strategic improvements as Chief Operating Officer and President, making him well-positioned to succeed me as Chief Executive Officer. Today the fundamentals of our business are strong and I am confident that under the leadership of Jim and the current management team, ADT will continue to perform and deliver on its long-term growth plans.”

“As President, Jim has demonstrated his deep understanding of the dynamics of our business and what it takes to win in the marketplace,” Marc Becker, chairman of the ADT board of directors stated in a prepared statement. “Leveraging his strengths, including developing strategic partnerships, Jim is well suited to lead the Company’s efforts to drive innovation, expand market share and create shareholder value. The Board expects the transition to be seamless and efficient, and with a world-class leadership team in place we will continue to build on our efforts to grow the business in a disciplined manner.”

He continued, “On behalf of the Board and the Company, I want to thank Tim for his many contributions to ADT. Tim is a thirty-year pioneer in the security alarm sector, and over the past two years, has led the effective transformation of ADT operationally and allowed the Company to deliver an enhanced customer experience through faster service delivery and higher quality customer care, while reducing costs and customer attrition. Through this laser focus on customer service and retention, as well as a more disciplined and robust customer acquisition strategy, Tim and the ADT team have positioned the business for continued strength and value creation.”

DeVries, who joined ADT as chief operating officer in May 2016, has served as President since September 2017. Prior to joining ADT, he held senior leadership roles at leading companies in the insurance, financial services and telecommunications industries, including most recently as executive vice president for Allstate Brand Operations.
 

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