JCI Security New Executive, Challenges And Plans

Executive *******

*** ******* ****** ********* *** ***** to ******* *** *** / **** security ******** ******** ** ***, *** his ********* ********* ********* *********, ****** ******, ** in.*** *** **-*** *********, *******, *** ambitious ***** ** ******* ******* *** a ********* ******** ****** ****** *** security **** *** * ********** ** focused ** *****-**** ******* ** *** expense ** ****-**** ********.

*** ********** ** **** *** ******* Valley / ******* ********* *** *** mesh **** **** *** *** *** goal ** **** ************, *** ***** Pandit's ********** / ********** **** ********* and ******** **** ******* ******** **** him, ** ******* ** ** * better *** *** *** ******** *** its *****, ****** *** *********** *** JCI ********* (****** **** *** *********** accelerated *********** ** ************).

***** ************ **** **** *** ********'* best ********** ******** *** ********** *** own ******* *** ***** ** *****-**** cash **********, ** *********** ******** ************ have **** **** ** *****. ** contrast,********* ******** ******* **************. ******* ******* ***** ************, ** believe *** ******** **** ******** ****-**** in * ****** ******** ** ***** and **.

*** ********'* *** ****** ********* ** IPVM, *********** **** **** *** "*********** synergies ******* *** ***** *** ******* of ********: ****** *******, *****, *** intrusion" *** **** *** "******* *****" is "************ *** *******" ****** ***** areas, ********* ***** *** **< ********* later ** *** ******. ** *&*, JCI **** * ******* ****** ***** "constantly ******* ** *************."

Strong *******, ****** **********

*** ********'* ******* *** ****** ** they *** ** *********, **********, *** focused ** **** ************ / ******* costs. *******, ** *** ********** ****, there *** **** ****** ********** / progress *** ***** *** *********** **** flat ** * ******* *** *** fallen **** *********** *** **** * ****** ********* *** ********** *** ** ****** * ** ****.

**** *** ****** ******** / ******** from *** **** *** **** ****** VMS/NVR ** **-**** ** * ****** that ********** ******* ************* *****-*********, *** will **** ** ***** ** *** innovate *** ***** *** ******* ********** / ********** ***** ******* ** ******** to **** / ***** *** ******** within ********.

Acquisitions ***

***** *** (********) ******** ******* ****, ***********, ** *** ***** on **** ****, *** ** *** now **** ** ***** ***** **** acquisition.

*** ******** ********** ****, *** **** **** *** years ***, *** **** ******** *** not ****** * *********** ****** ******.

**** ********,*** ******** ***, * ****** ****** ******* ********, two ***** ***, *** **** *** clearly ***** **** **** ****.

***** *** *** ****** ***** ****** of *** *** ******** ******* *** product ***********, ** *** **** ********* on ************ ** **** **** **** technology.

Pulling ****

***** ************* **** *** **** *****, ********* to *** ******** *******, ***** ****** four ***** ** *** *** *** lists ******* ** ** ********:

*** ************* ** **** * ********** long ********** ****** ******** ** ****** started **** ****** ****** ******* ****.********* * **** ****** ** *********, including * ****** ******* *** ******** solutions ********:

********* ** * ********** *** *** optimistic ********** *** ***, ** ********* itself *** ********* *** **** ***** in ******** *** ******. ******, ********* **** *** *** ****************, ******** *-***.

"Accelerating *** *******"

***'* ****** ********* ***, ** * product ******, ** **** ** ********** the ******* ****** ***** *****:

********** * ******, ****-*********** ******** **** a ****** ****** ****** ********, ** initial ***** *** ** ********* *** foundational ******** *** ********* *** **** for ********** *** ***** ******.

*** ******* ******** ******** ****** ******* adaptation. *** ************, **** ** ********** AI *********, **** ************, ****** *** Cloud *** ********* ******** *********. * am * ******* *** ** *****, and * ******* ************** ***** ** be ** *** **** ** *** we ***. ** ******* ***** ** accelerating *** ******* **** ** ******** on *** ******** **********.

*** ********* ****** *********** ******* ******** aspects:1. ***** ** ******. ********* **** Advent ** ********** ***. ******** **** experience ****** **/** ************* * *********. Unified ******* ** ******* ** *********** of **/***. ***** *** ******** *********. Total **** ** ********* **** ***** on **** ** *******, ***** *** maintenance7. ******** ****** **************

**** *** **** ****, *** ********* focus **** ** ** ********* ***** strategies. ******* ******* *****, ****** *** next *-* *****, ** ********** ********* several ******* ********* ******* ******* **** emerging ****** *****.

***** ********** *** **********, ***** *** state ** *** ******** ******. *** key ******** **** ** *** **** JCI ************ *********** ** ***** *****.

"Bring ******** ******** ** ****** *********"

******* ******** *** * ****** ***** within ********, *** *** **** **** is * ******** *** **** ** bring ***** ******, *****, *** ********* products ********:

** **** * ********** ******** ****** brands, *** ** **** ******* ***** is * *********** ** ********** ** the ****** ***** ***. **** ********** shift *** ******** *** ********* **** bring ******** *** ****** ****** ******** provides ** **** * ****** *********** for ******. ****** ************ ****** *** such ********* ** ** ******** *****, I’m * **** ********* *** ******** in *** **** *** ***** ****-******** outcomes, ******** ********** ***** ** *** end ****. ** ******* ********, ** are ******* ** **** **bring *** ******** ******** ** ****** ********* ******* **** ************* *** ******* **** ***** ******* * ********** ** ************ ****** **** ********** ********. I will be excited to share more about this in the coming months.The security business is one of the few technology spaces that continues to have strong organic growth and we see significant opportunity in it. For the future we are identifying ********* ******* *** ***** *** ******* ** ********: ****** *******, *****, *** *********, to create ****** ********* for the markets we serve. We also see several new verticals and regions outside of North America as significant areas of potential growth. [emphasis added]

***** *** ********* *** *********** ****** its ******** **** ** ***, *****, Software *****, ***., *** *********** ** tighter *** ****** *********** *** ***** over *** **** *******, ********** ** entrants **** ** ******* *** ******* have ********* ***** ******** ********** ** be "*******."

M&A *****

*** ******** **** ** **** ** a ****** ******* ******** ** *&* plans, **** ******** ** ***** ***** publicly ****** *********, **** ** ********* and ********, *** *** *** **** explicit ***** ****** ******* *&*. *** emphasized **** **** *** "********** *******" but ******* *** ******** ********:

******* ******** ** ********* ** ***** a ***** ********* ******** *** *********, including *** ******** ** ***** ******.We *** ********** ******* ** ************* to maximize value for our customers and accelerate our productroadmap to deliver new capabilities to the market. We remain excited about our future and are confident we are on the right path to simplify our portfolio, drive margin expansion and deliver consistent cash flow while serving our customers in the best way possible. [emphasis added]

*******

***** **** ******* *** *** ******* JCI ******** *** *** **** ** acquisitions **** *** **** *+ *****, JCI ******** *** *********** **** ** do ** ** **** ** **** pace **** *** *** ******** ** evolving. ** *** ******* **** ********* to *** ******** ********, ** *** be **** ** ** **, *** that ******* ** ** ****.