Ackerman Security Systems Joins ADT Authorized Dealer Program

Rhea-AI Summary

ADT has partnered with Ackerman Security Systems, enabling Ackerman to sell and install ADT smart home security services. This collaboration expands ADT's reach in Georgia, Virginia, and Maryland. As part of the agreement, ADT will acquire approximately half of Ackerman's customer accounts for $73 million. The partnership aims to enhance customer experience with advanced security solutions, while leveraging ADT's resources for innovative product offerings. This announcement follows a significant equity investment from Google in 2020, highlighting ongoing residential demand trends.

Positive

• Partnership with Ackerman Security expands ADT's market presence in Georgia, Virginia, and Maryland.
• Acquisition of half of Ackerman's customer accounts for $73 million enhances ADT's customer base.
• Positioning ADT for growth with the rollout of next generation smart home products.

Negative

• None.

Will exclusively sell and install ADT smart home security services to new customers

Expansion positions ADT to capitalize on rollout of next generation smart home security solutions

BOCA RATON, Fla., and ATLANTA, Feb. 10, 2021 (GLOBE NEWSWIRE) -- ADT (NYSE: ADT) announced today that Atlanta-based Ackerman Security Systems has joined the ADT Authorized Dealer Program and will sell and install ADT smart home security services to its new customers.

Ackerman Security joins more than 200 independently owned and operated ADT Authorized Dealers and expands ADT’s reach in Georgia, Virginia and Maryland.

“As we are preparing to roll out our next generation of smart home products and services, ADT is well-positioned to leverage our capital, our partnerships and innovation to deliver smart home and commercial security solutions,” said Jim DeVries, President and CEO of ADT. “Ackerman Security is a great addition to our national network of high-quality, professional security providers.”

As part of the partnership, ADT has agreed to acquire approximately half of Ackerman Security’s existing customer accounts for initial cash consideration of $73 million. This relationship represents a significant opportunity for customers to upgrade to the latest ADT smart home products and services and extends ADT’s reach along the east coast, specifically in the fast-growing tech hub of Atlanta.

“ADT is a leader in home security and a trusted brand known for their commitment to excellence in service,” said Richard Perry, President and CEO of Ackerman Security Systems. “We are thrilled by the opportunity to join the ADT team and know that our subscribers will benefit from an enhanced customer experience that includes access to the latest innovations in smart home security.”

Today’s partnership announcement builds on strong recent residential demand trends and follows Google’s 2020 $450 million equity investment in ADT.

FORWARD-LOOKING STATEMENTS
This press release, and other reports, filings, and other public written and verbal announcements contain certain information that may constitute “forward-looking statements” and therefore are subject to risks and uncertainties. All statements contained in this press release that are not clearly historical in nature, including statements regarding the participation of Ackerman Security Systems (“Ackerman Security”) in our ADT Authorized Dealer Program and our acquisition of customer accounts from Ackerman Security, anticipated financial performance, management’s plans and objectives for future operations, business prospects, outcome of regulatory proceedings, market conditions, our ability to successfully respond to the challenges posed by the COVID-19 pandemic, our strategic partnership and ongoing relationship with Google LLC (“Google”), the expected timing of product commercialization with Google or any changes thereto, the successful internal development, commercialization and timing of our next generation platform and other matters are forward-looking. Any time we use the words “expects,” “intends,” “will,” “anticipates,” “believes,” “confident,” “continue,” “propose,” “seeks,” “could,” “may,” “should,” “estimates,” “forecasts,” “might,” “goals,” “objectives,” “targets,” “planned,” “projects,” and similar expressions, we intend to clearly express that the information deals with possible future events and is forward-looking in nature. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking information involves risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied in, or reasonably inferred from, such statements, including without limitation, the risks and uncertainties disclosed or referenced in ADT’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings with the Securities and Exchange Commission, including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein. Therefore, caution should be taken not to place undue reliance on any such forward-looking statements. Much of the information in this press release that looks toward future performance of the Company is based on various factors and important assumptions about future events that may or may not actually occur. We assume no obligation (and specifically disclaim any such obligation) to publicly update or revise any forward looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

ABOUT ADT
ADT is a leading provider of security, automation, and smart home solutions serving consumer and business customers through more than 300 locations, 9 owned and operated monitoring centers, and the largest network of security professionals in the United States. The company offers many ways to help protect customers by delivering lifestyle-driven solutions via professionally installed, do-it-yourself, mobile, and digital-based offerings for residential, small business, and larger commercial customers. For more information, please visit www.adt.com or follow us on Twitter, LinkedIn, Facebook, and Instagram.

Investor Relations Contact:
Derek Fiebig
derekfiebig@adt.com

Media Contact:
Paul Wiseman
paulwiseman@adt.com
561-356-6388

FAQ

What is the significance of ADT's partnership with Ackerman Security Systems?

The partnership allows Ackerman to sell ADT smart home security services, expanding ADT's reach in key markets.

How much did ADT pay for Ackerman Security's customer accounts?

ADT agreed to acquire approximately half of Ackerman Security's existing customer accounts for $73 million.

What markets does ADT aim to expand into with this partnership?

ADT aims to expand its presence in Georgia, Virginia, and Maryland through this partnership.

What has been the impact of Google's investment on ADT?

Google's $450 million equity investment in 2020 supports ADT's growth and innovation in residential security.

What are the future plans for ADT's smart home products?

ADT is preparing to roll out next generation smart home products and services following this partnership.