HOLLYWOOD, Fla.— Devcon Security has undergone dramatic changes in the past few years: a rapid expansion, then an even faster downsizing and also a management shake-up. Now, an even bigger change—ADT’s announcement today that it has signed a deal to acquire Devcon for $148.5 million—is a welcome one, Devcon CEO Steve Hafen told Security Systems News.
Is the activist hedge fund chief William Ackman planning to buy a significant stake in ADT? There’s been some speculations that that’s the case, and as a result ADT’s stock price was way up yesterday. It rose 5.2 percent, its largest gain in months.
TOMS RIVER, N.J.—Claims of trade secrets stolen, employees poached and counterclaims that Tyco is trying to run a much smaller competitor out of business fill two lawsuits—one filed by Tyco Integrated Security at the end of May and a counterclaim filed by Integrated Security & Communications on June 24.
EL SEGUNDO, Calif.—Satellite TV provider DIRECTV is getting into home security with the purchase of LifeShield. Formerly known as InGrid, LifeShield is a self-installed, professionally monitored, wireless digital security system.
YARMOUTH, Maine—Home automation and interactive services get most of the headlines when it comes to generating additional RMR, but alarm companies may be leaving money in the field if they’re overlooking more basic opportunities, experts told participants at a recent ESX webinar.
SACRAMENTO, Calif.—Industry veteran Steve Baker, who has served in executive roles at ADT, Monitronics and Westec, announced May 22 that his corporation, GHS Interactive Security, has acquired LifeLine Security and Automation as a platform for growth.
A life-saving incident in April in Wichita, Kan. underscores the importance of having a monitored fire alarm. It also is a heart-warming story in which an ADT call center operator gets to meet the woman whose life she helped save.
BROOKFIELD, Wis.—A neighbor who heard an alarm activated at a nearby home May 8 was concerned about a break-in. The neighbor contacted police and went to the house and rang the doorbell, according to an article from the Patch.com outlet for Brookfield, Wis.
BOCA RATON, Fla.—Morgan Stanley this week upgraded shares of The ADT Corp. from an underweight to an equal weight rating in a report sent recently to investors, according to multiple reports. The firm currently has a $47.00 price target on the stock.
