Security Sales & Integration October 2022 - 12

INDUSTRY PULSE NEWS
State Farm to Own 15% of ADT
▶ BOCA RATON, Fla. - ADT announces
that insurance provider State Farm will
make a $1.2 billion equity investment in
ADT, resulting in State Farm owning approximately
15% of ADT after the equity
investment and the tender off er close.
ADT says it plans to partner with
State Farm, and build upon its existing
relationship with Google, with the aim
to expand opportunities to combine
next-generation security, innovative
smart home technology and reimagined
risk-mitigation capabilities to monitor,
detect, prevent and optimize against
homeownership risks.
State Farm will commit up to $300
million to fund product and technology
innovation, customer growth and marketing.
In addition, Google has separately
agreed to commit an incremental $150
million, subject to the achievement of certain
milestones, to advance opportunities
created by this type of innovation, raising
its total success fund commitment to
$300 million, according to the company.
" ADT's partnership with State Farm
creates the capability to drive innovation
in homeowners insurance on a broad
scale. By delivering a truly connected
home, together we can improve the
customer experience and provide more
peace of mind, " says Jim DeVries, ADT
president and CEO. " These new and expanded
partnerships represent another
bold step forward for our company and
provide ADT more avenues to grow our
customer base, strengthen brand loyalty
and lower customer acquisition costs. "
ADT says it envisions customer benefi
ts that may include:
▶ An integrated security, protection
and smart home solution that monitors,
detects, prevents and optimizes
against homeownership risks and
empowers customers to protect and
connect what matters most, delivering
increased peace of mind
▶ Lower homeowners insurance
premiums through safe homeowner
discounts for homes equipped with
GE, Carrier Face Class Action Suit
▶ TRENTON, N.J. - A class action lawsuit
has been fi led against General Electric
Company and Carrier for allegedly selling
combination-listed burglar and fi re alarm
system control units with defects, dangers
and non-conformities.
The units in question were sold under
the brand name Interlogix, and manufactured
and sold by GE, UTC, UTC Security
and Carrier.
According to the lawsuit, the Interlogix
alarm system control unit was manufactured
and sold by GE from 2002 through
2009 under the GE Security name, and
then UTC from 2010 through late 2015
under the Interlogix brand name and then
UTC Security from late 2015 through early
2020 under the Interlogix brand name
It was then sold by Carrier under the
State Farm will make a $1.2 billion
equity investment in ADT, while Google
separately committed an incremental
$150 million.
ADT smart home security systems
and powered by Google devices
▶ Reduced claim frequency and
severity with proactive protection
through ADT's patented SMART
monitoring technology that helps
protect against damage from water,
fi re, intrusion and other common
homeownership risks
In other ADT news, the company
has announced two key changes to its
executive leadership team. Jeff Likosar
has been named president, corporate
development and chief transformation
offi cer, after serving more than fi ve years
as ADT's chief fi nancial offi cer.
In this newly created role, the company
says Likosar will have responsibility for
corporate strategy, business development,
partnerships, pricing and product strategy,
and organizational transformation.
Additionally, Ken Porpora has been
promoted to executive vice president and
chief fi nancial offi cer, succeeding Likosar.
Porpora has been with ADT for nearly 25
years, holding leadership roles across fi -
nance, sales, marketing and operations.
Interlogix brand name after UTC Security
was spun off into Carrier in early 2020.
Rave Mobile Safety, RapidDeploy
Partner on Incident Data Sharing
▶ FRAMINGHAM, Mass. - Rave Mobile
Safety, a provider of technology solutions
that enhance critical communications, increase
resiliency, and improve safety, has
partnered with RapidDeploy, an industry
leader in Cloud-native 9-1-1 mapping and
analytics, to launch what it claims is the
world's largest public safety incident data
sharing solution in the state of California.
This fi rst-of-its-kind project will utilize
public safety data aggregation, intelligence
sharing, workfl ows, and notifi cation
capabilities found in Rave Aware to
enable Computer Aided Dispatch data
sharing, interoperability, and real-time
information exchanges while leveraging
best-in-class mapping and data
visualization from RapidDeploy Radius
Mapping, according to the company.
With the increase in size and frequency
of disasters such as wildfi res, earthquakes,
and fl ooding, collaboration between
police, fi re, EMS, and other agencies,
Rave says, has become more critical. In
the past, integrated responses have been
hampered by jurisdictional boundaries,
siloed communications, and reliance on
on-premises legacy technologies.
12
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