Residential
Simplisafe rolls out early access live guard outdoor service
April 23, 2024Ken Showers, Managing Editor
BOSTON – Home security company SimpliSafe has announced it will give select customers early access to its live guard outdoor protection service.
SimpliSafe says its new monitoring service introduces a double-layer approach to home security, combining the power of artificial intelligence technology with a team of expert monitoring professionals to prevent crime before it happens. The new service builds on the company’s recently launched 24/7 live guard protection.
“For...
ADI ready to “Snap” into place following parent company acquisition
April 23, 2024Ken Showers, Managing Editor
MELVILLE, N.Y. – Resideo Technologies picked up Snap One Holdings on April 15 for $1.4 billion, in a move that will combine the Control4 technology platforms of Resideo subsidiary ADI Global in the security market with Snap One's capabilities in the smart living market.
The deal is off to a great start: Moody’s Investor Service described it as “credit positive” and Snap One’s shares gained 29% following the announcement.
“The highly complementary...
Essence Security partners with ASSA ABLOY division to bring solution to French security market
April 16, 2024SSN Staff
HERZLIYA, Israel – Essence Security, a part of the Essence Group, announced its collaboration with Point Fort Fichet, France’s leading locksmith network and a subsidiary of ASSA ABLOY.
The partnership aims to distribute and implement Essence’s MyShield connected smoke-generating intruder prevention solution across France. MyShield is available for private properties, retail establishments and small businesses.
The Essence Group believes that a rising amount of break-ins in...
Resideo acquiring Snap One for $1.4 billion
April 15, 2024SSN Staff
SCOTTSDALE, Ariz., and CHARLOTTE, N.C. – Resideo Technologies has agreed to acquire Snap One Holdings for $10.75 per share in cash, for a transaction value of approximately $1.4 billion, inclusive of net debt.
Upon closing, Snap One will integrate into Resideo's ADI Global Distribution business. “The acquisition of Snap One is an exciting step in Resideo’s continued transformation through portfolio optimization, operational enhancements and structural cost savings actions,”...
Latch launches DPM, acquires The Broadway Company’s property management division
March 28, 2024SSN Staff
BOSTON & ST. LOUIS – Latch, soon to be Door.com, have announced the launch of its property management division, Door Property Management, LLC (DPM), and the acquisition of the property management business of The Broadway Company (TBC).
Latch’s acquisition will enable DPM to collect insights from direct management on a small portfolio of units in the Boston area, the company said. Latch stated that this strategic acquisition represents an opportunity for them to operate the entire property...
Snap One Control4 Halo remote firmware update enhances capabilities
March 5, 2024SSN Staff
CHARLOTTE, N.C. – Snap One has announced a slate of new features and capabilities for the Control4 Halo and Halo Touch remotes that provide a more streamlined and reliable interface.
Following the over-the-air update to v1.7, all Halo and Halo Touch remotes will gain a redesigned lighting page that offers faster control, longer battery life, improved WiFi stability, access to custom buttons from their system and a “What’s New” page that explains new features on the remote.
According...
Z-Wave Alliance announces release of ZWLR specification for Europe
February 29, 2024SSN Staff
BEAVERTON, Ore. –The Z-Wave Alliance, a standards development organization for smart home and Z-Wave technology, has announced that the specification for Z-Wave Long Range (ZWLR) for the European market has been completed and will be made available to member companies soon.
“From the moment we announced ZWLR for the North American market, the Alliance has been hard at work to make the spec available to our valued members in Europe,” said Avi Rosenthal, chairman of the board,...
2023 Q4 earnings call sees a slimmed-down ADT eyeing growth in 2024
February 28, 2024Ken Showers, Managing Editor
BOCA RATON, Fla. – Following a year fraught with challenges for most companies, ADT enters 2024 leaner and hungry as it refocuses on its core business.
On Feb. 28, 2024, ADT held its fourth quarter (Q4) 2023 earnings conference call to discuss both its financial results and its direction as it enters 2024 lighter after divesting itself of its commercial business and discontinuing its ADT Solar division.
ADT provided a number of highlights for both the quarter and the...
ADT volunteers with Rebuilding Together
February 14, 2024SSN Staff
LAS VEGAS – During Super Bowl weekend, volunteers from ADT participated in Kickoff to Rebuild, an annual event led by inspiring non-profit Rebuilding Together to provide essential home repairs for six families and community improvements in a Las Vegas-area neighborhood.
On Friday, Feb. 9, Cincinnati Bengals running back Chase Brown joined nearly 200 volunteers to help revitalize the community as part of Kickoff to Rebuild, an annual Super Bowl-sanctioned event.
"At Rebuilding...
Resideo uses 2023 momentum to pivot in 2024
February 14, 2024Ken Showers, Managing Editor
SCOTTSDALE, Ariz. – Resideo Technologies exited 2023 with a strong Q4, and now it's riding that momentum into 2024, making some significant changes to reshape its portfolio and operations.
Among the highlights for the year, Resideo saw revenue of $6.2 billion for 2023, an adjusted EBITDA of $552 million, and $440 million in cash from operations. Its report noted that the company improved business execution in the second half of the year with products and solutions transformation...