ADT to Go Public Again
ADT, located in Boac Raton, FL, is going public again.
- By Ralph C. Jensen
- Jan 05, 2018
ADT, located in Boac Raton, FL, is going public again. The global home security company acquired by Apollo Global in 2016, has filed for an IPO with the U.S. Securities and Exchange Commission (SEC) to go back to publicly traded markets. The offered value is $100 Million.
The company filed the relevant forms on Dec. 21, 2017, and although the initial valuation is $100 million it is an estimate and may change in later variations. It is reported by Bloomberg and WSJ that Apollo Global will retain control of the company, indicating that it will retain at least 50 percent of the shareholding.
Apollo combined ADT with its other home-security company acquisition, Protection 1, and during the first nine months of 2017, the new entity produced a net loss of $295.6 million against a $3.21 billion revenue.
ADT provides home-security monitoring in the United States and Canada where it has nearly 7 million residential and business customers, according reports from Bloomberg. More than 90 percent of its revenue comes from repeat payments from customers with whom it has contracts.
The stocks will be listed on the New York Stock Exchange under the ticker name of ADT.
Ralph C. Jensen is editor-in-chief of Security Today magazine.