ADI Global Distribution

Resideo to Acquire Snap One to Expand Presence in Smart Living Products and Distribution

Retrieved on: 
Monday, April 15, 2024
Clayton, Dubilier & Rice, LLP, J.P. Morgan & Co., Investment, Morgan Stanley, Omnichannel, Software, Hand, Webcast, Bank of America, Simpson Thacher & Bartlett, Willkie Farr & Gallagher, Control4, Bank, Acquisition, EPS, Adjustment, ID, ADI, Dubilier, ADI Global Distribution, CD&R, Interest

The transaction will combine ADI's strong position in security products distribution and Snap One's complementary capabilities in the smart living market and innovative Control4 technology platforms, which is expected to drive increased value for integrators and financial returns.

Key Points: 
  • The transaction will combine ADI's strong position in security products distribution and Snap One's complementary capabilities in the smart living market and innovative Control4 technology platforms, which is expected to drive increased value for integrators and financial returns.
  • Demand for connected technology products continues to grow, and Resideo is the right owner to drive our expansion.
  • A Strong Position Across Multiple Attractive Categories: The acquisition will combine Snap One's capabilities for smart living integrators with ADI's complementary position in adjacent security products distribution.
  • Snap One generated 66% of sales from proprietary products in 2023 and these offerings typically carry significantly higher gross margin than third-party products.

SmartRent Reports Fourth Quarter 2023 Results – Adjusted EBITDA Positive

Retrieved on: 
Tuesday, March 5, 2024
Commercial Building & Real Estate, Technology, Construction & Property, Other Technology, Software, Internet, Hardware, Other Construction & Property, Residential Building & Real Estate, SMRT, ADI, Research, Forecasting, Marketing, ADI Global Distribution, Adjustment, Software as a service, Community

Adjusted EBITDA of $0.7 million and $(19.2) million for Q4 and full year 2023, respectively.

Key Points: 
  • Adjusted EBITDA of $0.7 million and $(19.2) million for Q4 and full year 2023, respectively.
  • Q4 2023 was our first period of generating a positive Adjusted EBITDA compared to Q4 2022 loss of $(14.1) million and fiscal year 2022 loss of $(74.7) million.
  • “In the fourth quarter we achieved our two-year goal to become Adjusted EBITDA profitable, marking a new inflection point in our company's history," said SmartRent CEO Lucas Haldeman.
  • Adjusted EBITDA was $0.7 million for Q4 2023, a $5.8 million improvement from Q3, and $(14.1) million in Q4 2022.

XTEN-AV LLC Secures Strategic Investment from Resideo Technologies

Retrieved on: 
Wednesday, January 31, 2024
ADI, Growth, Pro, ADI Global Distribution, AV, Machine learning, Safety, Artificial intelligence, SVP, Documentation, XTEN

Union City, California--(Newsfile Corp. - January 31, 2024) - XTEN-AV LLC, a leading Pro AV (Professional Audio-Visual) design and proposal software provider, announces receiving a minority investment from Resideo Technologies, Inc.

Key Points: 
  • Union City, California--(Newsfile Corp. - January 31, 2024) - XTEN-AV LLC, a leading Pro AV (Professional Audio-Visual) design and proposal software provider, announces receiving a minority investment from Resideo Technologies, Inc.
  • This investment is a significant milestone for XTEN-AV and sets the stage for expanded growth across the Pro AV industry.
  • Resideo Technologies, Inc. is a leading global manufacturer and developer of technology-driven products that provide critical comfort, energy management, and safety and security solutions.
  • "This strategic investment not only strengthens our position in the market but also signifies a shared vision of advancing the Pro AV industry through innovation and efficiency."

SmartRent Reports Third Quarter 2023 Results

Retrieved on: 
Tuesday, November 7, 2023
Hardware, Residential Building & Real Estate, Technology, Construction & Property, Software, Software as a service, NYSE, EBITDA, ADI, Hosting, Growth, ADI Global Distribution, Forecasting, Total, SMRT, Cryptocurrency, Video game

SmartRent, Inc. (NYSE: SMRT) (“SmartRent” or the “Company”), a leading provider of smart home and property operations solutions for the rental housing industry, today reported financial results for the three months ended September 30, 2023.

Key Points: 
  • SmartRent, Inc. (NYSE: SMRT) (“SmartRent” or the “Company”), a leading provider of smart home and property operations solutions for the rental housing industry, today reported financial results for the three months ended September 30, 2023.
  • Management is hosting an investor call to discuss results today, November 7, 2023, at 10:30 a.m. Eastern Time.
  • $211.0 million in cash and cash equivalents as of September 30, 2023 – an increase of $14 million from Q2 2023.
  • We reported a strong first nine months of 2023, marked by nearly 40% growth in revenue and a more than $40 million decrease in operating losses,” said SmartRent CEO Lucas Haldeman.

Resideo Completes Sale of Genesis Cable Business

Retrieved on: 
Monday, October 16, 2023
ADI Global Distribution, Sale, Share repurchase, Partnership, NYSE, Genesis, Cryptocurrency, Drug, Resideo

SCOTTSDALE, Ariz., Oct. 16, 2023 /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI) announced today that it has completed its previously announced sale of its Genesis Cable business to Southwire Company, LLC for $87.5 million in cash, subject to customary purchase price adjustments.

Key Points: 
  • SCOTTSDALE, Ariz., Oct. 16, 2023 /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI) announced today that it has completed its previously announced sale of its Genesis Cable business to Southwire Company, LLC for $87.5 million in cash, subject to customary purchase price adjustments.
  • The after-tax proceeds will be used to support Resideo's capital allocation strategy which includes ongoing organic and inorganic investments and the recently announced share repurchase program.
  • "The closing of the Genesis sale represents our commitment to optimizing our product portfolio and our continued focus on value creation opportunities across our Products and Solutions business," commented Jay Geldmacher, Resideo's President and CEO.
  • "Genesis remains a strong partner to our ADI Global Distribution business and we look forward to our continued partnership as they join an industry leader in Southwire."

Xencelabs and Global Distribution Announce Partnership to Bring Revolutionary Digital Drawing Solutions to Creative Professionals

Retrieved on: 
Tuesday, September 26, 2023
Tablet, United Kingdom, Knowledge, ADI Global Distribution, Illustrator, Partnership, Book

LONDON, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Xencelabs, an innovative provider of digital drawing tablets, pen displays and accessories that empower creatives with the best professional tools, is delighted to announce a new strategic partnership with Global Distribution, a distributor of cutting-edge technology solutions.

Key Points: 
  • LONDON, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Xencelabs, an innovative provider of digital drawing tablets, pen displays and accessories that empower creatives with the best professional tools, is delighted to announce a new strategic partnership with Global Distribution, a distributor of cutting-edge technology solutions.
  • Under this partnership, Global Distribution will distribute Xencelabs' best-in-class range of digital drawing tablets, pen displays, and accessories through partners in the United Kingdom, Ireland, Benelux, Nordics, and Southern Europe.
  • With a shared commitment to empowering creative professionals with the most advanced tools, Global Distribution and Xencelabs aim to disrupt the status quo and bring fresh, innovative, and feature-rich solutions to the industry that provide digital artists, designers, and illustrators with an elevated experience.
  • The company's digital drawing tablets offer unprecedented precision, intuitive controls, and innovative features that surpass the capabilities of their competitors.

Southwire and Resideo Announce Agreement Related to the Sale of Resideo's Genesis Wire & Cable Business

Retrieved on: 
Tuesday, September 19, 2023
Partnership, ADI Global Distribution, Norris Production Solutions, Sale, Security, HVAC, Cable, NYSE, Safety, Electrical wiring, Risk management, Video game, Genesis

CARROLLTON, Ga., Sept. 19, 2023 /PRNewswire/ -- Southwire Company, LLC, and Resideo Technologies, Inc. (NYSE: REZI) announced today a definitive agreement for the sale by Resideo to Southwire of its Genesis Wire & Cable business, a leading low-voltage wire and cable manufacturer based in Pleasant Prairie, Wis.

Key Points: 
  • CARROLLTON, Ga., Sept. 19, 2023 /PRNewswire/ -- Southwire Company, LLC, and Resideo Technologies, Inc. (NYSE: REZI) announced today a definitive agreement for the sale by Resideo to Southwire of its Genesis Wire & Cable business, a leading low-voltage wire and cable manufacturer based in Pleasant Prairie, Wis.
  • "We are excited to welcome the Genesis team to Southwire," said Rich Stinson, Southwire's President and CEO.
  • "We're excited to welcome the Genesis Cable team to Southwire," said Norman Adkins, COO at Southwire.
  • "We look forward to continuing the strong partnership between Genesis and our ADI Global Distribution business and the opportunity to expand our relationship with Southwire."

Resideo and Southwire Announce Agreement Related to the Sale of Resideo's Genesis Cable Business

Retrieved on: 
Tuesday, September 19, 2023
Partnership, Share repurchase, ADI Global Distribution, Norris Production Solutions, Sale, NYSE, Safety, Risk management, Video game, Resideo, Genesis

SCOTTSDALE, Ariz., Sept. 19, 2023 /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI) announced today a definitive agreement for the sale to Southwire Company, LLC of its Genesis Cable business, a leading low-voltage wire and cable manufacturer based in Pleasant Prairie, WI.

Key Points: 
  • SCOTTSDALE, Ariz., Sept. 19, 2023 /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI) announced today a definitive agreement for the sale to Southwire Company, LLC of its Genesis Cable business, a leading low-voltage wire and cable manufacturer based in Pleasant Prairie, WI.
  • "This is also an exciting opportunity for the Genesis team, who will join a well-recognized industry leader in Southwire.
  • We look forward to continuing the strong partnership between Genesis and our ADI Global Distribution business and the opportunity to expand our relationship with Southwire."
  • "We are excited to welcome the Genesis team to Southwire," said Rich Stinson, Southwire's President and CEO.

Resideo Technologies Releases 2022 Environmental, Social and Governance (ESG) Report

Retrieved on: 
Wednesday, August 30, 2023
Carbon, Insurance, Norris Production Solutions, Poverty, Partnership, Housing, Energy management, Carbon dioxide, Atmosphere, Mission, ADI Global Distribution, Electricity, Environmental issues, Trust, GHG, DEIB, Social Security Government Pension Offset, Organization, EPA, Sustainability accounting, Sustainability Accounting Standards Board, Water, Growth, ESG, Social, Employee resource group, NYSE, Erg, Safety, Video game, Renewable energy, Natural gas, Resideo

Key highlights from Resideo's 2022 ESG report include:

Key Points: 
  • Key highlights from Resideo's 2022 ESG report include:
    Commitment to decrease its greenhouse gas (GHG) emissions, sharing Scope 1 and 2 emissions formally aligned to the Sustainability Accounting Standards Board (SASB) reporting metrics.
  • Resideo's smart thermostats offset the energy use and emissions of 275,000 homes in 2022, saving 2.2 million metric tons of carbon dioxide equivalent3.
  • Governance – Trust: driving a foundation of trust in the market through fair and ethical governance.
  • More information about Resideo's sustainability journey can be found at Resideo.com/sustainability , where the full ESG report is available for download.

Brilliant launches "Install It Anywhere" Home Control Panel to Make Any House or Apartment Smart

Retrieved on: 
Tuesday, August 22, 2023
Jinn, Smart plug, The Home Depot, ADI Global Distribution, Google Nest, Human, Multimedia, Somfy, Philips Hue, Control panel, Sonos, Schlage, Amazon Alexa, ADI, Kwikset, Ring, Video game, Television, Cryptocurrency, Electrical wiring, Interior design, Online shopping, Mobile phone, Brilliant, Amazon, Yale University, Resideo

SAN MATEO, Calif., Aug. 22, 2023 /PRNewswire-PRWeb/ -- Brilliant, the leading innovator in smart home control, smart lighting, and home automation systems, has launched a new "install it anywhere" plug-in version of its popular Smart Home Control Panels. The new product allows all homeowners, renters, and professional installers to make any house or apartment smart with a touchscreen-based control and automation system that controls popular smart home products.

Key Points: 
  • The new product allows all homeowners, renters, and professional installers to make any house or apartment smart with a touchscreen-based control and automation system that controls popular smart home products.
  • The Brilliant Smart Home Control Plug-In Panel is available for $399 at www.brilliant.tech and Amazon .
  • Brilliant Wired Control Panels, Smart Dimmer Switches, and Smart Plugs are available at www.brilliant.tech , Amazon, Best Buy, and Home Depot.
  • The Brilliant Smart Home Control Plug-In Panel will be available for purchase at ADI by October 2023.