ADT Aquires DIY Home Security Provider LifeShield
ADT Inc. announced that it has acquired LifeShield, LLC, a pioneer in advanced wireless home security systems, in a transaction valued at approximately $25 million. John Owens will continue in his current capacity leading the LifeShield team.
Founded in 2004, LifeShield was the first to bring a wireless DIY home security offering to the residential market. Over the past 15 years, LifeShield has further redefined residential home security, improving interactivity, advancing video capabilities and enhancing the overall user experience.
The addition of LifeShield’s innovative technology to ADT’s leading security and automation solutions and expertise increases ADT’s ability to address the approximately 80 percent of U.S. households who do not have professionally installed and monitored home security.
“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. “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.”