Resideo Redefines The Smart Home Experience, Now Trading As A Stand-Alone Company
October 30, 2018
NEW YORK, Oct. 30, 2018 /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI), a global provider of residential comfort and security solutions, and distributor of low-voltage and security products, is now a stand-alone, publicly traded company following its spinoff from Honeywell International Inc. Resideo will establish a headquarters in Austin, Texas, in early 2019. The company will ring the opening bell at the New York Stock Exchange (NYSE) at 9:30 a.m. EDT on Tuesday, Oct. 30. Live video of the event will be available at www.nyse.com/bell.
"At Resideo, we believe there is a tremendous opportunity to connect the complex systems of a modern home in simple, intuitive ways," said Mike Nefkens, president and CEO of Resideo. "Technology makes safer, more secure, and more energy efficient homes possible, and gives consumers convenience and control like never before.
"If you've ever tried to piece together a smart home yourself, you know how complicated it can be. It can mean dozens of gadgets and apps, rewiring, and troubleshooting. Our mission is to offer a different choice in the industry and make it easier to upgrade to a smart home," he said.
Resideo benefits from long-standing relationships with professional dealers and contractors, who purchase 95 percent of the company's residential products. The company will launch an expanded Contractor PRO loyalty program for the HVAC industry this year. It also will expand its Live Well program, which will allow HVAC technicians to test for airborne pollutants in the home and make informed recommendations, generating greater revenue opportunities while benefitting consumers. Resideo also will announce a new security contractor loyalty program at its 27th annual CONNECT Conference in November. Resideo plans to continue the popular security industry event in 2019.
In the coming months, Resideo plans to introduce new products and software to advance the smart home experience. This includes a Honeywell Home next generation professional residential security platform and new enhancements to the Total Connect Remote Services application. The D6 Pro Wi-fi Ductless Controller, which provides smart control for ductless HVAC, will be available in retail early next year and is already available for professional installation. The company also will launch a Universal Heat Pump Defrost Control for HVAC contractors, which offers universal compatibility across a broad range of original equipment manufacturer brands.
"A home is the largest investment most people will ever make. It should be their favorite destination as well, and that fuels our passion at Resideo to bring homes into the future," Nefkens said. "We work with the leading home automation partners to integrate products and apps so consumers have the flexibility to customize their smart home experience. We give professional contractors the tools they need to simplify smart home installation and provide ongoing support. Through advanced software, we connect our exceptionally designed products located on the wall, behind the wall, on the exterior, and in the cloud &endash; the way a smart home should be."
About ResideoResideo is a leading global provider of critical comfort and security solutions primarily in residential environments, and distributor of low-voltage and security products. Building on a 130-year heritage, Resideo has a presence in more than 150 million homes, with 15 million systems installed in homes each year. The company has a 40-year, exclusive license to use the Honeywell Home brand for products and will continue to serve more than 100,000 contractors through its ADI Global Distribution business, which exports to more than 100 countries from more than 200 stocking locations around the world. Resideo is a $4.8 billion company with approximately 14,500 global employees. For more information about Resideo, please visit www.resideo.com.
Media resources including a fact sheet, product images, leadership pictures, and b-roll footage are available on the Resideo newsroom at: www.resideo.com/news.
This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices, as well as the ability to effect the separation. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements, including with respect to any changes in or abandonment of the proposed separation. We identify the principal risks and uncertainties that affect our performance in Resideo's Form 10 Registration Statement, as amended, and other filings with the Securities and Exchange Commission.