ADT / ASG 'Merger' Acquisition

Author: John Honovich, Published on Feb 12, 2018

ADT, the $4 billion annual revenue security giant, recently publicly traded again, has merged with security integrator Aronson Security Group, according to a message from Aronson Security Group's (ASG) CEO Phil Aronson.

In this note, we examine the 'merger', the rationale behind this and how it might help ADT, whose IPO challenges have become a public problem.

***, *** $* ******* ****** ******* ******** *****, ******** ******** traded *****, *** ****** **** ******** ********** ******* ******** *****, according ** * ******* *********** ******** *****'*(***) ******* *******.

** **** ****, ** ******* *** '******', *** ********* ****** this *** *** ** ***** **** ***, ***** *** ********** have ****** * ****** *******.

[***************]

ADT *********** ** **********

***'* ******* ** ************** *********** *** ***. *** *******'* ********** and ********** *********** ******* ** * ******** ********. * *** factor ** **** ****** **** ***** ** **** **** *** *** **** **. ** **** ** **** *****, *** ****** *** *********** business ***** **** * ********* *********** ** ********* ** *** commercial / ********** *********** ******.

*** *** ***** * ****** ** ***** ****** **** **** integration, **** ***************** ** ***** ************* ***** ****** ********.

ASG **********

*** ** * ************ ********* *** ******** **********. *******, *** company *** ************** ****** **** *** ********* ******* ** *** ******* ********** **** ** *** * ******* **********. ** **********, *** ************* *** **** ** *****, *********** ****** ** *********** * ******** ********** **** **** systems ***********. **** ** **** *** ********** ** **** ****, ASG *** **** ********** ********* *** ******* ******** ** ****, most******* *********'* ***. ***** ******'***** ************' ************ ***** **** ** * *** *****, ***** ***** **** 'merger' ****** ** ***********.

Aronson ** '******'

*** *** **** ******* **** *** * ********** '***** **** ********* **** ******* **** ***':

**** ** ** ******** '******' ***** **** ***'* ******* ** ~100x ******* **** ***, ***** ******* ** ****** ****** ** $50 ******* **** ***'* $*,*** *******. **** ** **** ****** a ******** ** ** ************ ****** **** * ******* ******. If ** **** ** ******* ******** ** **** **** ****, we ***** ******.

No ************ **** ***

**** ******** ** **** ** ************ *** **** **** ** ADT. ** * ******** ****** *******, ** **** ***** ****** with ***, **** ***** ****** ** ******** *********** **** ***** need ** ** *********.

Update - ************ ***** *, ****

**** **** * ***** ***** ******* **** *** *** **********, ADT *** ****** * ****** ************, ********** ** ** ** acquisition, *** ******:*** ******* ********** ************ **** *********** ** ******* ******** ***** (ASG)

Good *** ***

*** ***, **** ***** ** **** **** ****. *** **** does *** *** **** (** ***** ****** $***+ *******), *** says **** **** ****** ** * ******* ****** ***, ******** them ** ******** ***** ****** *********** *** *********. **** ***********, if *** ******** **** ********* *** *********** ** *** **** of *** *****, *** *** ** **** ** ******** ***** overall ******* **** *****-***** *** *****.

ADT ******

***** *** *** ****** *** ******* *********** ******** *** *********** incumbent's *** ****** *** *********** ***********, ********** *** ********** *********** provides * *************** **** ** * ****** ***** *** ** less **********, ***** *** ********** ******** ** *** ******* ******** and **********.

** *** ****** **** *** *** ******** ** ******* ******* integrators, **** *** ** **** ** ***** ***** *** *********** group. *******, ** ***** ** ****, ***** ***** **** ** focus ** **** ******* ** *** ****** *** *** ********** of ********* ******* ***********.

Convergint ****** / *********** *********** ***** ****** ***

**** *** **** ********* ************'* ******* ****-** ** ***********. ** *** **** ****, *** ** *** ****** **** Convergint. ** *** ********, ********** ** *** **** ******* *** experienced ** ****** ***** ******* ***********.

********, *** *** **********'* ************ ******** ** ****** *** ****** of ****** ************ **** ******, ***** *** ************ * **** breed.

Comments (38)

Avatar

Brandon Knutson

02/12/18 03:46pm

*** ** *** **** ******** ******** *'** **** ****** ****. All *** **** ** **** *** *** ****.

Avatar

Ross Vander Klok

IPVMU Certified | In reply to Brandon Knutson | 02/12/18 04:08pm

*** ***** ** **** ***** ****** "********* **** ******** ********..." *** **** ** *** **** ** it. ** ***** ** ** **** ** **** **** * year ****** *** ***** **** ** *** ***** **** ***. I ** **** ** ** **** **** *** ******* ****** though, *** ********'* ****.

Avatar

Brandon Knutson

In reply to Ross Vander Klok | 02/12/18 04:13pm

****, * ********* ******** ** ******** ** **** ******, *** *** *** *****. I ***'* **** ** *** *** ** *********** ******** ****** that **** ** ** ****.

Avatar

Brian Rhodes

IPVMU Certified | In reply to Brandon Knutson | 02/12/18 04:18pm

Avatar

Brandon Knutson

In reply to Brian Rhodes | 02/12/18 04:24pm

***. ** ****** **** ** ** *** ****** ** ******* Ford *******.

Avatar

Ethan Ace

IPVM | In reply to Brandon Knutson | 02/12/18 04:47pm

************: **** ****** ** **** *******.

Avatar

Marco Sanchez

02/12/18 04:22pm

* **** ***** **** *** *** * ****** *** ******* and ** *** ****** **** ** **** **** **** * worked ** ** **********. *******, **** *** ***** **** **** Protection * ** ****** ****** ****** *** ******* ********** *** positively ******** *** ******* ** ******* ***** ****. ******* ***** the *******. ********* **** **** ********** ** *** *** *** ASG *** ** **** ****** *** **** **** **** ** the ***** ********** *********.

Lee Jones

Support Services Group | 02/12/18 07:25pm

*** ** *** ****** ***** ** ***…. **** *** *** high ********* *********** ********.

*** **** **** ** ******* “**********” ************ ****** ****** *** financial *** *********** *****…. *** ** ***** * ********* “***********” security *******. ******* ***** *********** ***** ******** *** ********* **** from *** ******** ** *****, ********, “*********” ******* **** *** ignored **** ** ***** ******. ******* ********* ********, ********* ******* are ***** ******* **** ******** **** ******, *** ****** ** consumer ****** ***********.

******: *** *****; ******* ******** *****; ******@***.***

Undisclosed #1

02/12/18 10:11pm

**** ** **** ****** * ******** ** ** ************ ****** than * ******* ******.

**** ******* ******* **** “****** *** ***”:

John Honovich

IPVM | In reply to Undisclosed #1 | 02/12/18 10:19pm

* ******* *****, ***** * **** *****:

**** ******** ** **** ** ************ *** **** **** ** ADT. ** * ******** ****** *******, ** **** ***** ****** with ***, **** ***** ****** ** ******** *********** **** ***** need ** ** *********.

Undisclosed #1

In reply to John Honovich | 02/13/18 05:21am

***** **’* *** ***** ** * *** *****, *** *********** acquisition ***********.

** ******** ***** **** **** *********/****** **** ********, ******************* **** **** ******* *******.

John Honovich

IPVM | In reply to Undisclosed #1 | 02/13/18 11:34am

* **** *** *** ****** *** * ** ***** **'* kind ** *****. ******** *** ******** ******** ****'** ****** **** or *********...

** *** ***********, ** *** ***** ****, *************** *** '************' has *** *** ********* ** **** ****** *** ********** ****** that ***, ******* **** ***** ******.

Undisclosed #2

02/12/18 11:33pm

**** *** **** ********** ** **** ****.

*** ******* ** ***** ****** ** ****** *****.

John Honovich

IPVM | In reply to Undisclosed #2 | 02/13/18 12:25am

** ** ** **** ** *** *** ***'* **** ** ADT's ********* **********?

Avatar

Michael Gonzalez

02/13/18 03:06am

****, *'* **** * *** ***** **** **** *** ** ASG...I ******'* *** *** ******** **** ** *****, ***'* **** breathe ** **...

Undisclosed #1

In reply to Michael Gonzalez | 02/13/18 04:50pm

****, *'* **** * *** ***** **** **** *** ** ASG...

*** ***** **** ** **** *** **** *** **** **** retention ********* *** *** ***** **. * ****** *** ******* payout *** ******** ***** * ***.

Undisclosed End User #3

02/13/18 07:44am

**** **** *******, * **** *** ****** *********** & ************ in ***** ********* *** ******** *********.

Undisclosed #4

02/13/18 07:45pm

***** ** **** * *** ** ***** ****** ** *** right ***.

John Honovich

IPVM | In reply to Undisclosed #4 | 02/13/18 07:47pm

#*, *** *** *******?

Undisclosed #4

In reply to John Honovich | 02/13/18 08:37pm

**** * *** **** ** *** **** ****, *****?

**, *** *** ****** ******* ** *** ******* ********* *** speaking **** **** ** ******* **** **** ***** *** ** have ** *** ****, **** *** *** ****** ***** ********** comments ***** *** *******. * ****** ******* * ***** *** up ***** *** *** *** ***** **** **** ** *******. The ****** ** ** *** **** ********* ***** **** *** fact **** * ****** ***** ********* **** *** ******* ** other ********* * **** *** ****** *** *** **** ** amusing *** *** **** **** ***** *** *** ******, ** thanks ******** *** **** **********. ****** ***** ******* ********* ** RFPs ***., * ****** **** ** ***** ***, ************ ******** or *********, * **** ****** **** ****** ** ***** ***** I ***. * **** *********** * *** ** **** ****** work, ******* *****, ******** ************** *********** **** *** ** ******* people ** *** ******** ******. ********* * *** ********* *** CAD **** **** **** *********** *********** ** *** ****; **** when **** ** **** ******* ***** **** ***** ************* *** companies. ** ** **** ** **** *** ******** **** ***, logic *** ******** **********. ***** ** *** ** ***** *** relationship, *****. *******, * **** **** ** *** **** *** have *** ***** ** ***** *** *** ******* ***** ***** be ******* *** *** ***** **** ****, ***** ** ***** department ** ***** ** **** *** *** *****. ** **** opinion ***** ** **** *** ****? ******** ***! ********** ** accrued **** ********* *** *** **** ****** *********** (*** ** go *****, *** ***** ** *** ****-***). * **** *** best ** ** ********* ******* *** ***. ***'* **** *****, Ain't **** ********.

John Honovich

IPVM | In reply to Undisclosed #4 | 02/13/18 08:41pm

****** *** **** ******! ;)

Undisclosed #1

In reply to John Honovich | 02/13/18 10:20pm

****** ***’* ********* *** :)

Undisclosed #2

In reply to Undisclosed #4 | 02/13/18 10:07pm

****'* * **** *** ** *** **. *** ******* ** ADT -- **** ****'* *** *** **** ***********'* *** -- has *** ***** ** ***** *** (******) *** *******. ** may **** ** **** ** ** **. ****** ** **** if **** **.

Avatar

Michael Gonzalez

In reply to Undisclosed #4 | 02/13/18 08:04pm

* **** ** *****, ***** *** ** *** *********** *'** had **** **** **** **** **** *******, **** ********** **** their ********. *'* ******* ******* ** ****** **** ***** *** of **.

Avatar

Brandon Knutson

In reply to Undisclosed #4 | 02/13/18 08:08pm

***** *** **** ******* **** ******'* *** ** *********. * think ***** ****** ***** *** ***** ********** *** *********** ******.

Undisclosed #1

02/14/18 11:10am

** ***** ** ***** ************, ****** ** *********, ** *** transaction ******* *** **********?

*** **** * ***** **, *** **’* *******.

****, **** ** *** *********** ** *** ******* ** ** one **** ******* **** ******, * ******* ** ***** **** a ******** ********** ** ** ********.

** **** ****, **** ********** ***** ** ****** *********** **********, **?

John Honovich

IPVM | In reply to Undisclosed #1 | 02/15/18 02:39am

** ***** ** ***** ************, ****** ** *********, ** *** transaction ******* *** **********?

* ***** **** *** **** ******** ********.

*** ** ***** ** ******, ****** **** **** ******* ***** it ** ***** * **** ****** ** ******** ** **. At *****, * ********* **, ******** **** ****** **** ********** it **** ******* ****** **** ******** ***** ***.

** **** ********** **** *****, ** ** **** ** ******** combination.

** **** ****, **** ********** ***** ** ****** *********** **********, **?

* ***** ***** * *** **** ******** ***** ** ******** the ********** ** * ****** ************ ** ********* **********...

** *** ***********, * ** *** **** **** *** ******** / ****** ** *** ****** ** ******** *********** (*.*., **** counts ** ***** ******** ****** ** **** ** ******). *******, one ***** ** ****** ** *********.*** *** ******** ********* ******* ****** *** '****' ******* $** ******* *******, ************* **** than *******. ** ***** ***** ** **** **********, ** ***** indicate *** ****** ******** ********.

Undisclosed Integrator #5

02/14/18 01:56pm

**** ** * ****** ** **********- ** ******* **** ** a ****** *** ***********.

*** ******, *** **** ** *** *** *** **** **** sharp ************ **** **** **** ***** - **** **** ** the '*** **** * **** *******- * ******** ***** ******* focused ** ******* *** **** ***** *******.

*** **** *** **** ******** *** **** **** *** * very ****** ******** ** ********** *** **** *** ** ***** them *****.

*********, *** ******* **** ******* *** *** ****** *** **** the ******* ******* *** ** *********.

Larry Tracy

02/16/18 05:09am

** ******* ** **** *** **** ************** **** ********* ******** a **** *********.

*** ** ***** *** *** **** ***, ******* *** ***** mass ****** **** ** *** * *** ****** ** *** back *** * ******'* *** ******* *** *** *****.

Undisclosed Integrator #6

02/20/18 02:47am

*** *** * *** ** ******** *********. ***** ** *** Worman *** *** **** ***** *** ** *********** ********* ******** that *** ******** **** * ****** ***. **** ********* ****** (tweaked ***** *** *** ** ******) ****** *** **** *** company **** *** ********* ** *****. **** "******" *** ******** resulted ** * **** **** *** *** *** ***** *** were ***** ****** ** **** * ***** ** *** *******.

John Honovich

IPVM | 03/01/18 01:50pm

***** ** ******** ************ **** **** * ***** *****, ***** is ****** ********. ***'* ***** ** **** ****** ** ** will ** *********** **** **** *** *****.

Undisclosed Integrator #6

In reply to John Honovich | 03/02/18 02:11am

**** ** *******. **** **** ** * ********* **** ** generate **** **** *** ********* ************* ** ***** *****??

Avatar

Michael Silva

Silva Consultants | In reply to John Honovich | 03/02/18 10:52pm

********* ************ ** **** *********?

Avatar

Brandon Knutson

In reply to Michael Silva | 03/02/18 11:01pm

***** **** **** **** ***** *** *** ***** ************ *********.

Undisclosed #4

In reply to Michael Silva | 03/02/18 11:02pm

***.

Undisclosed #2

In reply to Michael Silva | 03/02/18 11:56pm

*****. *** **** **********? * ******* **** *** *** ** that ******** **** ****/** *** *******. * ******* *** **** did ***** ******** (****** ***** ****** **** *** *-**** ****** advertised ** ***** *** **** ***** ** * ***.)

** ***** ** *** ********** ********? * ****, ***-***/****.

John Honovich

IPVM | In reply to Michael Silva | 03/03/18 12:03am

*******, ******!

**** ***'* *******:*** ******* ********** ************ **** *********** ** ******* ******** ***** (ASG)

**************, *** ***** ** ** ***********, *** * ******.

Undisclosed Integrator #6

In reply to Michael Silva | 03/03/18 02:46am

***, ****** *** **** **** ******* *** *** *** *** press **** *****'* ****. * ** ***** ** *** ** accurate **************** ** *** ****** ** ** ***********. ** ********* makes **** ***** ***** *** **** ** **** *******.

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