Welcome to our dedicated page for ADT news (Ticker: ADT), a resource for investors and traders seeking the latest updates and insights on ADT stock.
ADT Inc. provides security, interactive and smart home solutions for residential and small business customers in the United States under the ADT brand. Company news commonly covers operating results, recurring monthly revenue trends, customer attrition, cash generation, dividends, share repurchases and capital-structure actions involving ADT common stock.
Product and technology updates center on the ADT+ smart security ecosystem, professional monitoring, connected devices and added services such as Live Light and My Safety. Recent corporate developments also include the completed Origin AI acquisition, AI-enabled Wi-Fi sensing technology, ambient sensing capabilities for the home and related commercial licensing activity.
BigID has appointed Sigal Zarmi, an accomplished financial services executive, to its Board of Advisors. Zarmi's extensive experience includes leadership roles at Morgan Stanley and GE Capital, and she currently serves on the boards of ADT and Hashicorp. Her insights into digital transformation and technology operations are expected to enhance BigID's strategic direction. CEO Dimitri Sirota emphasized her innovative thinking as a critical asset for the company's growth. BigID is recognized for its data intelligence solutions that improve data governance and security.
ADT Inc. (NYSE: ADT) will host a virtual investor day on March 1, 2022, at 9 a.m. EST. The event will include a presentation by CEO Jim DeVries and senior leaders discussing the company's long-term strategy, followed by a Q&A session. Additionally, ADT will release its fourth-quarter and full-year 2021 financial results on the same morning. Details for registration will be available on the ADT investor relations website. A live webcast will also be provided, including a replay post-event.
Ford and ADT have launched a joint venture called Canopy, focused on enhancing vehicle security through AI-powered cameras and monitoring solutions. The initial products will debut in early 2023, targeting high-volume commercial trucks and vans in the U.S. and U.K. Canopy aims to protect valuable equipment in vehicles, addressing the growing theft problem that cost U.S. businesses over $7.4 billion in 2020. Integration with Ford vehicles and potential partnerships with other manufacturers are also planned.
Ford (NYSE:F) and ADT Inc. (NYSE:ADT) have launched Canopy, an AI-powered vehicle security system targeting both personal and commercial markets. The system integrates ADT’s monitoring services with Ford’s camera technology. Canopy's first products are set to launch early next year, focusing on security for high-volume commercial trucks and vans in the U.S. and U.K. Canopy aims to reduce theft losses—estimated at $7.4 billion in 2020—by offering customizable alerts and a mobile app for users to monitor their vehicles remotely.
Tortoise Properties, LLC has acquired over 2 acres in downtown West Palm Beach for a Class A+ mixed-use development featuring 264 luxury apartments and lifestyle retail. This property is strategically located on the 40-acre NORA redevelopment corridor. The acquisition complements Tortoise Properties’ portfolio, which includes significant assets like the fully leased 172,000-square-foot office campus in Boca Raton. CEO James D. Geleerd highlighted the growing demand for rental housing in the area, citing its favorable business conditions and population growth.
MGG Investment Group LP has successfully completed the sale of Sunpro Solar, the largest rooftop solar provider in the Southeastern United States, to ADT Inc. for $825 million. MGG previously supported Sunpro through a first-lien term loan and a cash equity investment. MGG’s CEO emphasized the investment reflects their strategy of partnering with growth-focused management teams and advancing sustainability. Sunpro's CEO expressed gratitude for MGG's support in their growth journey and looks forward to partnering with ADT to enhance renewable energy solutions for customers nationwide.
ADT Inc. has completed its acquisition of Sunpro Solar, marking its entry into the rapidly growing residential solar market. The newly formed ADT Solar will deliver rooftop solar and energy storage solutions across 22 states, with plans for further expansion. This strategic move aims to enhance customer value by combining smart home security with sustainable energy solutions. ADT expects to leverage its existing customer base, with a significant portion expressing interest in solar products, to drive organic growth. Marc Jones, Sunpro's founder, will lead ADT Solar.
ADT Inc. (NYSE: ADT), a leading brand in smart home and small business security, announced that CEO Jim DeVries will participate in the RBC Capital Markets Technology, Internet, Media, and Telecommunications Conference on November 16, 2021. The event will feature a fireside chat starting at approximately 1:20 PM ET. Investors can access a live webcast and subsequent replay via the ADT Investor Relations website.
ADT is committed to connecting and protecting what matters most to customers through innovative products and a vast network of security professionals.
ADT Inc. announced its pending acquisition of Sunpro Solar for approximately $825 million, marking an entry into the residential solar market. In Q3 2021, total revenue increased by 1% year-over-year to $1,317 million, while monitoring revenue rose by 5%. The end of period recurring monthly revenue (RMR) reached $356 million, up 4%. The company's net loss improved to $109 million from $113 million in the previous year. ADT's adjusted EBITDA decreased slightly to $554 million. The acquisition aims to create a top-tier position in solar, enhancing ADT's energy management solutions.
ADT announced its agreement to acquire Sunpro Solar for $160 million in cash and approximately 77.8 million shares of ADT common stock, totaling an enterprise value of around $825 million. This acquisition will establish ADT Solar as a leader in the residential solar market, leveraging ADT's national presence and trusted brand. The transaction is expected to be accretive to EPS within 12 months and enhance EBITDA and free cash flow immediately. With a $15 billion annual residential solar market opportunity, ADT aims to capitalize on its customer base of over 6 million households.