{"id":64070,"date":"2016-02-16T09:23:40","date_gmt":"2016-02-16T14:23:40","guid":{"rendered":"http:\/\/www.businesspundit.com\/?p=64070"},"modified":"2020-09-21T13:34:01","modified_gmt":"2020-09-21T17:34:01","slug":"security-giant-adt-being-purchased-for-7-billion-02-2016","status":"publish","type":"post","link":"https:\/\/www.businesspundit.com\/security-giant-adt-being-purchased-for-7-billion-02-2016\/","title":{"rendered":"Security giant ADT being purchased for $7 billion"},"content":{"rendered":"

\"ADT<\/p>\n

Home security and alarm maker ADT\u00a0started as a telegraph service in 1874 and morphed into the nation’s largest home security company. On Tuesday, it announced it was being sold for $7 billion.<\/p>\n

The company is being snatched up by private equity firm Apollo Global Management for $42 per share, a 56% premium on Friday’s closing share price.<\/p>\n

Shares of ADT soared more than 50% in early trading on the news after Monday’s market holiday in the US.<\/p>\n

\"ADT<\/p>\n

ADT will merge with Protection 1, another home security company that is already owned by Apollo.<\/p>\n

The sale comes at a time when ADT’s share prices were down 30% over the last year. During the company’s sales call it revealed that it missed forecasts.<\/p>\n

ADT has been facing an uphill battled as new players have entered the market. Upstarts such as smart home device maker Alarm.com have given ADT a run for its money. It is also facing growing competition from Alphabet’s NEST product and other cheaper internet based services.<\/p>\n

Comcast, Time Warner Cable, and AT&T also offer home security solutions.<\/p>\n

The combined security companies will continue to operate under the more well-known ADT name.<\/p>\n","protected":false},"excerpt":{"rendered":"

Home security and alarm maker ADT\u00a0started as a telegraph service in 1874 and morphed into the nation’s largest home security company. On Tuesday, it announced it was being sold for $7 billion. The company is being snatched up by private equity firm Apollo Global Management for $42 per share, a 56% premium on Friday’s closing […]<\/p>\n","protected":false},"author":48,"featured_media":64072,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25],"tags":[10056,10057,10058,7396],"class_list":{"0":"post-64070","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-adt","9":"tag-apollo-global-management","10":"tag-mergers-and-acquisition","11":"tag-security"},"acf":[],"wps_subtitle":"","_links":{"self":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/64070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/users\/48"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/comments?post=64070"}],"version-history":[{"count":4,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/64070\/revisions"}],"predecessor-version":[{"id":64076,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/64070\/revisions\/64076"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/media\/64072"}],"wp:attachment":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/media?parent=64070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/categories?post=64070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/tags?post=64070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}