SALES, RENTALS & LAYAWAYS

PROTECTING EVERYTHING THAT HAS EVER BEEN OF VALUE TO YOU

Open 24/7/365

We Have A Life-Time Warranty /
Guarantee On All Products. (Includes Parts And Labor)

Home Security Company ADT Betting On Google Partnership To Build Revenue

The alarm system-provider began selling Google’s Nest products this spring, hoping to solidify its place in the smart-home arena. Home Security Company ADT Betting On Google Partnership To Build Revenue

Security-system provider ADT Inc. is betting on its partnership with Google’s smart-home business to increase revenue as it struggles to turn a profit three years after going public.

The company, best known for its home alarm systems, last summer announced the deal with Google, whose Nest business makes thermostats and smoke detectors that customers can monitor from their phones. Under the agreement, Alphabet Inc.’s Google invested $450 million in the Boca Raton, Fla.-based firm, taking a 6.6% stake.

 

In late April, ADT began selling Google’s hardware, including its smart display and speakers, to its home-security customers, Chief Financial Officer Jeff Likosar said. The two companies are working on integrating their devices—for example, ensuring ADT’s systems recognize Google voice commands and temperature controls, he said. They are also drawing up plans for new products and services, he said, though he declined to provide specific sales figures and forecasts. Google declined to comment.

“We envision over time this would be our core offering,” said Mr. Likosar. ADT currently generates revenue by installing security systems and providing monitoring systems to homes and businesses in the U.S.

The partnership is expected to bolster ADT’s revenue, he said. The company reported a net loss of $48 million during the first quarter, due in part to fewer installations during the pandemic, compared with a $300 million loss a year earlier. It hasn’t reported a full-year profit since its public listing in 2018.

Total revenue for the quarter slipped 5%, to $1.3 billion. ADT expects sales to bounce back as the economic recovery takes hold, particularly in light of the recent housing boom.

Increasing recurring monthly revenue—what it earns from providing alarm monitoring and other services—is a key priority for the company. Recurring revenue made up 80% of ADT’s total quarterly revenue as of March 31.

Adding new customers who want to use Google’s Nest products will help the company achieve that goal, Mr. Likosar said. The company has about 6.6 million recurring customers.

“As we have jointly acquired more customers, and we have an offering in the customer’s home, there are opportunities to expand the services that a given customer might have, ” Mr. Likosar said. ADT acquires the Nest hardware it offers to customers directly from Google, he said.

Home security systems have historically required professional installation, but the rise of smartphone-connected and do-it-yourself products in recent years has expanded the market, according to Jennifer Kent, vice president of research at Parks Associates, a market research firm.

Approximately 34% of U.S. households with broadband access had a home-security system last year, up from 27% five years earlier, according to Parks Associates.

Competitors in the industry include Amazon.com Inc., which three years ago acquired video-doorbell company Ring, as well as SimpliSafe Inc. and Vivint Smart Home Inc.

ADT benefits from the arrangement by tapping into Google’s analytics capabilities and reaching a larger group of digitally-savvy customers, Mr. Likosar said. Google benefits, meanwhile, by having access to ADT’s staff of roughly 5,700 technicians and its customer service capabilities, he said.

Under the seven-year partnership, both companies also agreed to invest $150 million each that will go toward engineering, designing and marketing of new products.

In connection with Google’s investment, ADT also repaid $300 million in debt. The company had $9.7 billion in net debt as of March 31, compared with $10.3 billion a year earlier, according to S&P Global Market Intelligence, a data provider.

The companies are exploring ways to develop new offerings, such as cameras, doorbells, thermostats and analytics capabilities, Mr. Likosar said. An example: If someone opens a customer’s front door and trips an alarm, the smart-home system could gather information from other devices, such as motion detectors, to assign a threat level to the incident, he said.

Before its 2018 listing, ADT was owned by private-equity firm Apollo Global Management Inc. which acquired it in 2016 and merged it with two other companies, Protection 1 and ASG Security. Apollo still owns 73.4% of ADT’s shares outstanding.

 

Home Security Company ADT,Home Security Company ADT,Home Security Company ADT,Home Security Company ADT,Home Security Company ADT,Home Security Company ADT,

 

Related Articles:

Carnegie Cyber Kids Academy. World’s Most Prestigious Cyber Defense Training Facility

How To Opt Out Of Amazon’s Bandwidth-Sharing Sidewalk Network

Carnival Discloses Breach of Personal Data On Guests And Crew

UK Cyber Chief Cameron Says Ransomware Key Online Threat

The FBI Secretly Ran The Anom Messaging Platform, Yielding Hundreds Of Arrests In Global Sting

Federal Reserve Hacked More Than 50 Times In 4 Years

All of JBS’s US Beef Plants Were Forced Shut By Cyberattack

It Wasn’t Until Anonymous Payment Systems That Ransomware Became A Problem

How To Use Ian Coleman’s BIP39 Tool For Finding Bitcoin Addresses And Private Keys From A Seed Phrase

A New Ransomware Enters The Fray: Epsilon Red

This Massive Phishing Campaign Delivers Password-Stealing Malware Disguised As Ransomware

Biden Proposes Billions For Cybersecurity After Wave of Attacks

Mobile Crypto ‘Mining’ App Possibly Connected To Personal Data Leak

Ireland Confirms Second Cyber Attack On Health System

US Unveils Plan To Protect Power Grid From Foreign Hackers

Hackers Breach Thousands of Security Cameras, Exposing Tesla, Jails, Hospitals

A Hacker Was Selling A Cybersecurity Exploit As An NFT. Then OpenSea Stepped In

Clubhouse And Its Privacy & Security Risk

Using Google’s ‘Incognito’ Mode Fails To Prevent Tracking

Kia Motors America Victim of Ransomware Attack Demanding $20M In Bitcoin, Report Claims

The Long Hack: How China Exploited A U.S. Tech Supplier

Clubhouse Users’ Raw Audio May Be Exposed To Chinese Partner

Hacker Changed Chemical Level In Florida City’s Water System

UK Merger Watchdog Suffers 150 Data Breaches In Two Years

KeepChange Foils Bitcoin Theft But Loses User Data In Sunday Breach

Hacker Refuses To Hand Police Password For Seized Wallet With $6.5M In Bitcoin

SonicWall Says It Was Victim of ‘Sophisticated’ Hack

Tor Project’s Crypto Donations Increased 23% In 2020

Read This Now If Your Digital Wallet Which Holds Your Crypto-currencies Can Be Accessed Through Cellular, Wifi, Or Bluetooth

Armed Robbers Steal $450K From Hong Kong Crypto Trader

Is Your iPhone Passcode Off Limits To The Law? Supreme Court Ruling Sought

Researchers Warn 3 Apps Have Been Stealing Crypto Undetected For A Year

Ways To Prevent Phishing Scams In 2020

The Pandemic Turbocharged Online Privacy Concerns

US Treasury Breached By Foreign-Backed Hackers

FireEye Hack Portends A Scary Era Of Cyber-Insecurity

How FinCEN Became A Honeypot For Sensitive Personal Data

Apple And Google To Stop X-Mode From Collecting Location Data From Users’ Phones

Surge In Physical Threats During Pandemic Complicates Employee Security Efforts

Imagine A Nutrition Label—for Cybersecurity

Cybercriminals Attack GoDaddy-based Cryptocurrency Platforms

Biden Team Lacks Full U.S. Cybersecurity Support In Transition Fracas

Nasdaq To Buy Anti-Financial Crime Firm Verafin For $2.75 Billion

Mysterious Software Bugs Were Used To Hack iPhones and Android Phones and No One Will Talk About It

Dark Web Hackers Say They Hold Keys To 10,000 Robinhood Accounts #GotBitcoin

Hackers Steal $2.3 Million From Trump Wisconsin Campaign Account

Crypto Scammers Deface Trump Campaign Website One Week From Elections

Telecoms Protocol From 1975 Exploited To Target 20 Crypto Executives

With Traders Far From Offices, Banks Bring Surveillance To Homes

Financial Systems Set Up To Monitor Unemployment Insurance Fraud Are Being Overloaded (#GotBlockchain?)

A Millionaire Hacker’s Lessons For Corporate America

Container Shipping Line CMA CGM Says Data Possibly Stolen In Cyberattack

Major Hospital System Hit With Cyberattack, Potentially Largest In U.S. History

Hacker Releases Information On Las Vegas-Area Students After Officials Don’t Pay Ransom

Russian Troll Farms Posing As African-American Support For Donald Trump

US Moves To Seize Cryptocurrency Accounts Linked To North Korean Heists

These Illicit SIM Cards Are Making Hacks Like Twitter’s Easier

Uber Exec Allegedly Concealed 2016 Hack With $100K BTC ‘Bug Bounty’ Pay-Off

Senate Panel’s Russia Probe Found Counterintelligence Risks In Trump’s 2016 Campaign

Bockchain Based Surveillance Camera Technology Detects Crime In Real-Time

Trump Bans TicToc For Violating Your Privacy Rights While Giving US-Based Firm Go Ahead (#GotBitcoin?)

Facebook Offers Money To Reel In TikTok Creators

How A Facebook Employee Helped Trump Win—But Switched Sides For 2020

Facebook Rebuffs Barr, Moves Ahead on Messaging Encryption

Facebook Ad Rates Fall As Coronavirus Undermines Ad Spending

Facebook Labels Trump Posts On Grounds That He’s Inciting Violence

Crypto Prediction Markets Face Competition From Facebook ‘Forecasts’ (#GotBitcoin?)

Coronavirus Is The Pin That Burst Facebook And Google Online Ads Business Bubble

OpenLibra Plans To Launch Permissionless Fork Of Facebook’s Stablecoin (#GotBitcoin?)

Facebook Warns Investors That Libra Stablecoin May Never Launch (#GotBitcoin?)

FTC Approves Roughly $5 Billion Facebook Settlement (#GotBitcoin?)

How Facebook Coin’s Big Corporate Backers Will Profit From Crypto

Facebook’s Libra Is Bad For African Americans (#GotBitcoin?)

A Monumental Fight Over Facebook’s Cryptocurrency Is Coming (#GotBitcoin?)

Alert! 540 Million Facebook Users’ Data Exposed On Amazon Servers (#GotBitcoin?)

Facebook Bug Potentially Exposed Unshared Photos of Up 6.8 Million Users (#GotBitcoin?)

Facebook Says Millions of Users’ Passwords Were Improperly Stored in Internal Systems (#GotBitcoin?)

Advertisers Allege Facebook Failed to Disclose Key Metric Error For More Than A Year (#GotBitcoin?)

Ad Agency CEO Calls On Marketers To Take Collective Stand Against Facebook (#GotBitcoin?)

Thieves Can Now Nab Your Data In A Few Minutes For A Few Bucks (#GotBitcoin?)

New Crypto Mining Malware Beapy Uses Leaked NSA Hacking Tools: Symantec Research (#GotBitcoin?)

Equifax, FICO Team Up To Sell Your Financial Data To Banks (#GotBitcoin?)

Cyber-Security Alert!: FEMA Leaked Data Of 2.3 Million Disaster Survivors (#GotBitcoin?)

DMV Hacked! Your Personal Records Are Now Being Transmitted To Croatia (#GotBitcoin?)

Lithuanian Man Pleads Guilty In $100 Million Fraud Against Google, Facebook (#GotBitcoin?)

Hack Alert! Buca Di Beppo, Owned By Earl Enterprises Suffers Data Breach Of 2M Cards (#GotBitcoin?)

SEC Hack Proves Bitcoin Has Better Data Security (#GotBitcoin?)

Maxine Waters (D., Calif.) Rises As Banking Industry’s Overseer (#GotBitcoin?)

FICO Plans Big Shift In Credit-Score Calculations, Potentially Boosting Millions of Borrowers (#GotBitcoin?)

Our Facebook Page

Your Questions And Comments Are Greatly Appreciated.

Monty H. & Carolyn A.

Go back

Leave a Reply