By SP&T Staff
The transaction is valued at approximately US$25 million.
Founded in 2004, ADT says LifeShield was the first to bring a wireless DIY home security offering to the residential market, and has further redefined residential home security: improving interactivity, advancing video capabilities and enhancing overall user experience.
“As more consumers look for real protection solutions that only ADT can provide, we look for companies that share our passion for security, customer service and innovation,” said ADT President and CEO Jim DeVries, in a prepared statement. “We are confident that LifeShield’s capabilities and approach, combined with the brand and scale of ADT, will create an opportunity for us to offer our services to a broader cross-section of U.S. households. Together with LifeShield we will be positioned to offer more solutions to a broader base of customers and create increased value for our shareholders as we seek to grow profitability through expanded, yet focused offerings.”
“This combination unites the passion and commitment of two organizations that are focused on security,” said Mike Hagan, LifeShield chairman, who will continue as an advisor. “Leveraging ADT’s significant experience integrating products, we look forward to working together to ensure a seamless transition and capitalize on the attractive market opportunities in the DIY segment. Together we will continue to advance our strategy to deliver the best security solutions to our customers at every stage of their lives.”