Security Systems News

JUN 2018

Security Systems News is a monthly business newspaper that reaches 25,100 security installers, product distributors, central stations, engineers & architects, and security consultants. Our editorial coverage focuses on breaking news in all major se

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Learn more about our Authorized Dealer Program 855.677.3598 | When you choose Guardian's Authorized Dealer Program, you're working with an experienced industry leader who has a track record in coaching dealers to prosperity. Choosing Guardian means choosing success, through funding, mentorship, incentives and support. CHOOSE SUCCESS PARTNER WITH GUARDIAN Competitive Packages & Sales Incentives Customer Equipment Financing Dedicated Resource Daily Funding STOP BY AND VISIT US AT June 20-21 - 3rd floor lounge Selling Only and Traditional Options Equipment Pricing Program Abode receives majority stake investment By Spencer Ives PALO ALTO, Calif.—Nice S.p.A., a global home and building auto- mation company, on April 13 acquired 75 percent of abode sys- tems, a provider of DIY security and home automation systems based here, for $18.75 million. The remaining stock is held by abode's founders. "We actually had a lot of inter- est from several larger [compa- nies based] outside the U.S. … but we felt like Nice was the best fit for us. We really liked their team and their focus on design and user experience was one of the things that drew us to their founder, Lauro Buoro," Chris Carney, co-founder of abode systems, told Security Systems News. Nice and abode first met in 2017, Carney said. Abode's security system is self- installed with a self-monitoring option as well as a professional monitoring option supported by UCC's monitoring center. Abode users can also pick on-demand professional monitoring options. The company has more than 15,000 users now, most of which are in the U.S., according to Car- ney, but abode has customers in 27 different countries. "I think that we have the potential to grow into a very competitive company for the foreseeable future based on this," Carney said. "The main thing for us was getting additional invest- ment and resources to continue to innovate the product, add to what we've already built, and then we have some opportuni- ties for geographic expansion." Following the investment, abode plans to increase its employee count, particularly in marketing, customer support, and development, Carney said. Abode has 33 employees now and could add between 20 and 25 employees in the next six to 12 months. "The innovation will move— I think—at a quicker pace and we'll be able to build and scale to sup- port a grow- ing customer base alongside of that," said Carney. The compa- ny is currently working on its new iota system, a new, smaller form factor that will be offered alongside abode's other product. There are potential synergies with what Nice does, accord- ing to Carney, such as abode's systems integrating with Nice's products. In a prepared statement, Lauro Buoro, founder and chair- man of Nice S.p.A., said, "It is a strategic operation for the Group which will allow us to expand on our product range to include the Home Security sec- tor for installers and end users, thereby strengthening Nice's leadership position in USA and North America, a market that is enjoying growing demand for connected home and building automation and home security solutions." Buoro continued, "This part- nership represents important leverage in the direct dialogue of Nice with its end user yet safeguarding the business to business distribution channels and services offered to profes- sionals; it also offers up innova- tive opportunities of integration between various platforms and extraordinary, highly profit- able cross-selling options with potential partners in the insur- ance sector, as well as the range of additional subscription ser- vices. [Twenty-five] years after Nice was founded, this is another step forward in the international growth process, in the portfolio of products and services offered by our group, characterized by a strong focus on digitalization, to become the point of reference in the supply of cutting-edge solu- tions on a global scale, in the home security and smart home industry." SSN Chris Carney June 2018 S e C u RITY SYST e MS ne WS Residential s ystems 26

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