Resideo

Resideo

Type	Public
Traded as	NYSE: REZI
ISIN	[https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language=en&isin=US76118Y1047 US76118Y1047]
Industry	Security systems, Home automation, Fire detection
Founded	October 29, 2018
Headquarters	Scottsdale, Arizona[1] , United States
Area served	Worldwide
Key people	Jay Geldmacher (CEO) Tony Trunzo (CFO) Phillip Theodore (President P&S)
Products	Home automation products
Brands	Honeywell Home First Alert
Revenue	$6.4 Billion (2022)[2]
Number of employees	13,000
Divisions	ADI Global Distribution
Website	{{{1}}}

Resideo Technologies, Inc. is a publicly traded U.S.-based company formed in 2018 out of a spin off from Honeywell. It provides room air temperature, quality, and humidity control and security systems primarily in residential dwellings in the U.S. and internationally. The company operates in two segments: products and solutions and global distribution. It manufactures and distributes smart-home and software products, including temperature and lighting^[3] control, security, and water and air monitoring. The company also distributes security, fire and low-voltage products.^[4][5] The company now has over 13,000 employees globally, and products in over 150 million households.

History

Spin-off

Honeywell spun off the Homes and Distribution business in October 2018 as part of a corporate restructuring program. The new company was named Resideo. Shares in the company began trading on the New York Stock Exchange under the ticker symbol REZI.^[6][7][8] Roger Fradin, a former vice chairman of Honeywell, was named board chair. Mike Nefkens was named president and CEO. The company established its headquarters in Austin, Texas following the spin-off.^{[9][10][11][12]} Resideo’s shares initially traded at $28 with market capitalization of $3.2 billion. In its first full quarter as a standalone company, the company reported sales of $1.2 billion and earnings of $2.53 per share.^[4][13][6] In the second quarter of 2019, the company reported sales of $1.2 billion and earnings of $0.19 per share.^[14][15]

In 2021, Resideo announced that it would move its corporate headquarters from Austin, Texas to Scottsdale, Arizona.^[1] The move was complete by early 2022.^{[citation needed]}

Mergers and acquisitions

On March 28, 2019, Resideo announced the acquisition of Buoy Labs, a company that offers water usage and leak prevention products.^[16] All Buoy products have been discontinued and support was stopped 31st March 2021.

On May 21, 2019, Resideo announced it had acquired energy efficiency technology from Whisker Labs. The technology creates an thermodynamic model of a home to predict energy use and enable efficiency.^[17]

On June 27, 2019, Resideo announced the acquisition of LifeWhere, a company that uses predictive analytics to forecast home appliance failures.^[18][19]

On February 7, 2022, Resideo announced it would acquire First Alert from Newell Brands.^[20]

Business units

Products and solutions

Resideo sells a range of products under the Honeywell Home brand through a long-term licensing agreement. Products include security cameras, heating and cooling controls (thermostats), water leak and freeze detectors.^[21][8]

Distribution

Resideo owns ADI Global Distribution, a wholesale distributor of security products. Along with the Homes unit, ADI Global was spun off from Honeywell as part of the restructuring that became Resideo.^[21][22]

References

External links

• Business data for Resideo Technologies, Inc.:
  • Google Finance
  • Yahoo! Finance
  • Bloomberg
  • Reuters
  • SEC filings

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