BOCA RATON, Fla.—The ADT Corp. announced this morning that it plans to acquire Devcon Security from Golden Gate Capital for $148.5 million. The deal—ADT’s first major acquisition since spinning off from Tyco International last fall—brings 117,000 accounts and $3.6 million of RMR. The transaction is expected to close in early August, Naren Gursahaney, ADT CEO, said during an investor call today.
DELRAY BEACH, Fla.—Jim Clark, serial entrepreneur and founder of Silicon Graphics, Netscape, WebMD, MyCFO and Shutterfly, yesterday announced the launch of his latest business venture, CommandScape, an integrated building management system for commercial and premium residential properties.
NEW YORK—The ADT Corp. CEO Naren Gursahaney has set a bold goal. He wants the newly independent ADT—which began trading on the New York Stock Exchange on Oct. 1—to increase its residential penetration from 20 percent to as much as 40 percent.
BOCA RATON, Fla.—Quality and competitive pricing helped a small Dallas-based company beat out foreign competition to win a multi-million dollar contract from ADT Security Services, ADT announced Oct. 11.
HyperGraphic Impressions won a contract of up to $12 million from ADT. The contract will result in the production of millions of yard signs for ADT customers. ADT needs more signs because the electronic security giant continues to grow.
