United States. ADT Inc. announced the acquisition of LifeShield, LLC, an advanced wireless home security system company, 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 offering of DIY (Do It Yourself) home security to the residential market. Over the past 15 years, LifeShield has further redefined home security, improving interactivity, improving video capabilities, and improving the overall user experience.
Adding LifeShield technology to ADT's security and automation solutions increases the brand's ability to address the 80% of U.S. homes that do not have professionally installed and monitored home security.
"As more consumers look for real protection solutions that only ADT can provide, we are looking 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 focus, combined with ADT's brand and scale, will create an opportunity for us to offer our services to a broader section of U.S. homes. Together with LifeShield, we will be positioned to offer more solutions to a broader customer base and create greater value for our shareholders as we seek to increase profitability through expanded but focused offerings."
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