Tag: Resideo Technologies
Resideo CEO announces retirement
November 8, 2024Ken Showers, Managing Editor
SCOTTSDALE, Ariz. — Resideo Technologies President and CEO Jay Geldmacher has announced his plans to retire in 2025.
During a conference call to discuss the company’s third quarter 2024 financial results, Geldmacher said he plans to remain CEO until a successor is appointed and after that he plans to serve as a senior advisor to ensure a smooth transition.
“It’s been my privilege to lead the company for the last four and a half years,” he said. “I’ve...
Resideo releases 2023 Environmental, Social and Governance (ESG) Report
September 6, 2024SSN Staff
SCOTTSDALE, Ariz. — Resideo Technologies Inc. has released its 2023 Environmental, Social and Governance (ESG) report, detailing its ESG progress, new climate commitments, and continued execution of its ESG strategy.
"After five years as a stand-alone company, we are learning more every day about what is necessary to succeed with our customers and in our key markets," said Jay Geldmacher, President and CEO, Resideo Technologies. "At Resideo, we know sustainability is...
Snap One acquisition completed by Resideo
June 17, 2024SSN Staff
SCOTTSDALE, Ariz. — Resideo Technologies, Inc. announced that it has completed the acquisition of Snap One, a provider of smart-living products, services, and software to professional integrators.
Resideo said it will integrate Snap One into its ADI Global Distribution segment. Together, ADI and Snap One will provide integrators with an increased selection of both third-party products and proprietary offerings through an extensive physical branch footprint augmented by digital capabilities.
The...
‘No stone unturned’ as Resideo seeks value from acquisition
May 8, 2024Ken Showers, Managing Editor
SCOTTSDALE, Ariz. – Resideo Technologies’ recent acquisition of Snap One provided a nice layup for company executives to talk about the impact on the company’s financial performance during a recent conference call.
Resideo President and CEO Jay Geldmacher told investors on the call that Resideo had identified meaningful cost synergies between ADI and Snap One.
“Needless to say, the team is quite excited about the future integration of Snap One into Resideo,...
Quarter pounded
May 8, 2024Ken Showers, Managing Editor
Dire continuity yields to the march of time as this week marks cleanup for the industry’s quarterly financial results.
One more to go as of writing this and then the second quarter (Q2) 2024 begins for me in earnest, but most companies have probably been eager to get a jump on Q2 for some time now. It’s no secret that it’s been a rough financial quarter for everyone in one way or another, I don’t even think it’s confined to the security industry either! Go peek at...
ADI ready to 'Snap' into place
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...
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,”...
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...
Resideo reveals Q4 and 2023 results release date
January 29, 2024SSN Staff
SCOTTSDALE – Resideo Technologies, Inc., a global provider of home comfort, life safety and security solutions, and distributor of commercial and residential security and audio-visual products, will release its fourth quarter (Q4) and full-year 2023 financial results on Tuesday, Feb. 13, 2024.
A conference call and simultaneous webcast to discuss the results will be held on Tuesday, Feb. 13, at 5:00 p.m. ET. Interested investors and other parties can listen to a webcast of the...
XTEN-AV secures strategic investment from Resideo Technologies
January 23, 2024SSN Staff
UNION CITY, Calif. – XTEN-AV, a provider of professional audio-visual design and proposal software, has announced it has received a minority investment from Resideo Technologies.
XTEN-AV said that this investment marks a significant milestone for the company and prepares it for expanded growth across the Pro AV industry. The company provides a collaborative software platform for integrators to conceptualize designs and streamline proposal processes.
"We continue to see Pro AV...