Resideo
| Company type | Public |
|---|---|
| Industry | Home automation, Security systems, Smart home technology |
| Predecessor | Honeywell (Homes and Distribution segment) |
| Founded | 2018 |
| Headquarters | Scottsdale, Arizona , United States |
Area served | Worldwide |
Key people | Mike Nefkens (President and CEO), Roger Fradin (Chairman) |
| Products | Smart home technologies, temperature regulation, lighting control, security systems, water and air monitoring equipment, security cameras, thermostats, leak detectors |
Number of employees | 13,000+ |
Resideo Technologies, Inc. is a U.S.-based multinational corporation formed in 2018 following a separation from Honeywell. The company focuses on controlling indoor air temperature, air quality, humidity, and security systems, mainly serving residential customers both domestically and abroad. Resideo's operations are divided into two primary divisions: product manufacturing and distribution. It designs and supplies smart home technologies and software solutions, encompassing temperature regulation, lighting control, security systems, as well as water and air monitoring equipment. Additionally, it handles the distribution of security, fire safety, and low-voltage products. The enterprise employs over 13,000 staff globally, with its solutions installed in upwards of 150 million residences.
Spin-off
In October 2018, Honeywell restructured by separating its Homes and Distribution segment, resulting in the creation of Resideo. The new entity began trading on the New York Stock Exchange under the symbol REZI. Roger Fradin, previously Honeywell’s vice chairman, was appointed as chairman of the board, while Mike Nefkens took on the roles of president and CEO. Post spin-off, Resideo established its corporate headquarters in Austin, Texas.
At its market debut, Resideo's stock opened at $28 per share with a valuation of $3.2 billion. During its initial full quarter as an independent firm, it recorded revenues totaling $1.2 billion and earnings per share of $2.53. By the second quarter of 2019, revenue remained consistent at $1.2 billion with earnings per share reported at $0.19.
In 2021, the company announced plans to relocate its headquarters from Austin to Scottsdale, Arizona, a transition that was completed by early 2022.
Mergers and acquisitions
On March 28, 2019, Resideo expanded its portfolio by acquiring Buoy Labs, a company specializing in water consumption monitoring and leak prevention technologies. However, all Buoy products were phased out and support ceased as of March 31, 2021.
Resideo further enhanced its energy efficiency capabilities on May 21, 2019, by purchasing technology from Whisker Labs. This technology utilizes thermodynamic modeling of homes to forecast energy consumption and optimize efficiency.
On June 27, 2019, Resideo acquired LifeWhere, a firm that applies predictive analytics to anticipate failures in home appliances.
On February 7, 2022, Resideo announced the acquisition of First Alert from Newell Brands, broadening its range of home safety solutions.
Most recently, on April 15, 2024, Resideo agreed to purchase Snap One for about $1.4 billion in cash at $10.75 per share. This acquisition includes Control4—a prominent home automation brand established in 2004—as well as other Snap One brands like Triad, Luma, and Araknis that will be distributed through ADI Global Distribution.
Products
Through a long-standing licensing agreement with Honeywell Home, Resideo offers an array of products under this brand name. Its principal product lines include security cameras, thermostats, along with detectors for water leaks and freezing conditions.
Distribution
Resideo owns ADI Global Distribution, a wholesale distributor specializing in security-related products. Both ADI Global Distribution and the Homes division originated from Honeywell prior to being spun off into Resideo’s operations.