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ADT, a renowned provider of security and smart home solutions, and Google announced that they are entering into a long-term partnership to create the next generation of smart home security offerings. The partnership will combine Nest’s award-winning hardware and services, powered by Google’s machine learning technology, with ADT’s installation, service and professional monitoring network to create a more helpful smart home and integrated experience for customers across the United States. The partnership will integrate Google’s hardware and services and ADT’s DIY and professionally installed smart home security solutions to innovate the residential and small business security industry. The future ADT + Google helpful home security solution is expected to advance smart home offerings and attract new consumers seeking premium technology, end-to-end smart home service and trusted security. Home security expertise Google’s partnership and financial investment in ADT underscores the depth of joint commitment to smart home" “We are thrilled to partner with Google to provide the smart home market with a strong, differentiated product and service offering that integrates the best technology, hardware and smart home security expertise from our two brands,” said Jim DeVries, President and CEO of ADT. “Google’s partnership and financial investment in ADT underscores the depth of our joint commitment to the smart home and security markets. Our entire leadership team is looking forward to continuing our work with Google as we define the future of helpful home security and build a productive long-term partnership.” Smart home security solutions “We’re excited to partner with ADT to further our mission of building helpful devices for the home,” said Rishi Chandra, GM and Vice President of Nest. “ADT is a leader in smart home security, and I look forward to working with the team to create innovative smart home security solutions that help everyone feel safe and protected.” The partnership pairs ADT’s more than 20,000 professionals together with Google’s suite of helpful home hardware, manufacturing technology and vertical technology stack. ADT + Google will offer customers an advanced, integrated helpful home security solution. The partnership is underpinned by a long-term commitment from both companies to making safe, secure, private and differentiated products accessible to new and existing customers. Partnership vision The ADT + Google helpful home security solution will utilise a secure platform for a seamless experience The simplified yet innovative ADT + Google security solution will sit at the centre of the new, helpful home, and advances in machine learning will transform the smart home security customer experience. ADT expects to offer certain Google devices to its customers beginning this year and to expand the integration in 2021. The complete ADT + Google helpful home security solution will utilise a secure platform for a seamless experience that prioritises privacy and interoperability for greater customer peace of mind and choice. Google will make a $450 million investment in ADT in exchange for shares of a newly created Class B common stock having all of the rights and preferences of ADT's common stock except for the right to vote on the election, appointment or removal of directors. Strategic investment Upon the closing of Google’s equity investment in ADT, Google will own 6.6% of ADT’s outstanding aggregate common equity. Google’s equity investment, which is subject to customary closing conditions, is expected to close in the third quarter of 2020. Proceeds will be used to fuel growth and reduce leverage over time. Each company will commit an additional $150 million, subject to the achievement of certain milestones, to be used for co-marketing, product development, technology and employee training to advance the partnership. These investments are expected to accelerate ADT’s capital efficient growth and drive broader consumer awareness and deeper product innovation for both companies in the fragmented yet rapidly expanding smart home market.
ADT Inc., a provider of security, automation, and smart home solutions serving consumer and business customers in the United States, announced it has been named as the premier provider of smart home security and automation services for D.R. Horton, the nation’s large homebuilder by volume. D.R. Horton homes will be outfitted with Home is Connected®, a suite of smart home and ADT security-ready products that keep one connected with the people and things one values most. Each D.R. Horton home will include connected thermostats, video doorbells, door locks, light switches and lamp modules installed by ADT Authorised Dealer, Safe Haven. Voice-control features Homeowners who choose ADT monitoring can seamlessly connect their smart home security system and connected devices with the easy-to-use ADT mobile app and use voice control features for simple, hands-free operation. “D.R. Horton’s Home is Connected smart home system was designed to help consumers automate and protect their homes,” said David Auld, President and CEO of D.R. Horton. “As the leading smart home security provider, ADT is well positioned to serve D.R. Horton now and for years to come,” said Jim DeVries, President and CEO of ADT. “We are committed to bringing innovative smart home security and world class customer service to the expanding residential new construction market.” Automate the living experience The ADT security-ready automation technology in new D.R. Horton homes enables owners to set custom scenes so they can automate the living experience, such as setting lights to turn on when the owners come home or raising the thermostat temperature automatically when they leave. “We are focused on offering homebuyers value when they purchase a new home,” Auld said. “Delivering homes that are ADT security-ready is another way we can provide a better experience for our homeowners from the moment they move in, and that's what America's Builder is all about.”
ADT announced that, via ADT Commercial, its commercial channel, it is joining forces with Dollar Tree, Inc., to help provide protection to its retail locations nationwide. ADT Commercial, a provider of commercial security, fire, life safety and risk consulting services in the U.S., will provide comprehensive and innovative security solutions and monitoring services at the majority of Dollar Tree and Family Dollar locations across the U.S. “In these rapidly evolving times, we’re thrilled to be partnering with Dollar Tree for what marks the largest contract to-date for ADT Commercial,” said Jim DeVries, President and CEO of ADT. “Dollar Tree has shown itself to be a true provider by seeking out enterprise-level security solutions on the market.” Commercial security for customer and employee safety ADT Commercial will service Dollar Tree and Family Dollar locations across the U.S. The agreement includes equipment and service enhancements, and 24x7 remote support from ADT. “Our goal is to provide custom, innovative, integrated solutions to meet Dollar Tree’s unique needs. With this partnership, we’re helping to shape the future of retail security and look forward to working with Dollar Tree to make that future a reality,” said Dan Bresingham, Executive Vice President, Commercial, of ADT. “It is very important for us to ensure our customers and associates feel safe and secure while in our stores,” said Bob Oberosler, Sr. Vice President of Asset Protection, at Dollar Tree, Inc. “We continue to enhance our in-store technologies, and are fully committed to customer and employee safety.”
ADT, globally renowned security and automation provider that serves residential and business customers, has announced that it is providing US $1 million, through its ADT Always Cares program, to support over 100 non-profit organisations in 44 states and Puerto Rico affected by COVID-19. ADT Always Cares program The funds are being allocated in US $5,000 and US $10,000 increments to nonprofits in communities where ADT employees live and work. Local ADT teams are determining which charities to support with choices ranging from soup kitchens and homeless shelters to first responder organisations or any other nonprofit which serves those in need. “All of us at ADT are immensely grateful to our hometown heroes on the front lines who are selflessly continuing to serve their communities while facing the unique challenges of a COVID-19 environment,” said Jim DeVries, President and CEO of ADT. Jim adds, “Through our giving, we are supporting local organisations who share our passion and commitment to create safer neighborhoods, improve lives and help make the world a better place.” COVID-19 relief fund One of the first US$ 10,000 recipients will be Gleaners, an Indianapolis food bank The check presentations will start May 18 and continue through June, 2020. One of the first US$ 10,000 recipients will be Gleaners, an Indianapolis food bank that has distributed over a half a billion pounds of food since 1980. “Gleaners is navigating the hunger relief crisis associated with COVID-19. We are grateful for the ADT contribution which will help us provide emergency food boxes throughout our service area to hungry Hoosiers, many of whom find themselves struggling to put food on the table for the first time,” said John Elliott, President and CEO of Gleaners. LifeSaver celebrations to support police, fire departments As part of ADT’s award-winning Always Cares program, employees volunteer more than 20,000 hours each year benefiting hundreds of non-profit organisations and touching the lives of thousands in need. Examples of support include providing meals through local food banks, building homes with Habitat for Humanity, beautifying Ronald McDonald Houses and much more. ADT also supports police and fire departments through its LifeSaver celebrations, a signature program that recognises ADT employees and first responders who help save the lives of ADT customers.
ADT, a provider of security, automation, and smart home solutions serving consumer and business customers in the United States, released key findings from a consumer privacy survey that reveals consumer sentiment on the topic. With many data privacy and security issues in the news, it’s no surprise that 92 percent of respondents feel smart home security companies need to take measures to protect customers’ personal data and information. However, while concerns around privacy are high, more than 40 percent of those surveyed admit they don’t feel knowledgeable on the topic. The smart home security industry has the opportunity to provide leadership and guidance in this area to maintain consumer trust and promote responsible data privacy practices within the industry. Internet-connected smart home security platform We’ve consistently taken great care to protect and connect our customers in the most secure ways possible" “ADT released the first Internet-connected smart home security platform in 2010, and we’ve consistently taken great care to protect and connect our customers in the most secure ways possible, using leading industry standards and best practices to guard their data, privacy and personal information,” said Jim DeVries, President and CEO of ADT. “Where there is consumer confusion about privacy, we as an industry must work to reduce that confusion so consumers can be confident that the products and services we provide to help keep them safe can be trusted. With that trust in place, there can be greater peace of mind.” Key consumer privacy opinion survey findings The explosion of the smart home device category ushered in scores of new manufacturers and brands that may have put convenience before user privacy. However, the ADT consumer privacy opinion survey revealed consumers are now aware of and concerned about privacy as it relates to smart home devices with the top concerns reported to be hacking (75%) followed by government spying on in-home smart cameras (53%) and smart speakers (52%). The survey also uncovered that when it comes to how personal information is shared, consumers tend to be more concerned about how governments (89%) and companies (93%) share their personal information than they are about how they share their own personal information on social media (86%). No data privacy measures These consumer privacy opinion survey findings validate the work we’ve been doing as an industry over the past year" And, despite acknowledging the importance of privacy protocols, most consumers don’t use privacy measures available to them. In fact, fewer than 40% of survey respondents reported having any data privacy measures in place at all. “These consumer privacy opinion survey findings validate the work we’ve been doing as an industry over the past year to create a set of guiding principles, designed to help protect customer privacy and trust in the security industry and member companies, and to unify ourselves around them,” said Frank Cona, Chief Privacy Officer at ADT. Consumer privacy initiative Previously on Data Privacy Day, ADT announced the Consumer Privacy Initiative, an industry-level initiative to unite the smart home security industry and produce clear guiding principles and best practices for how security providers manage consumer data and protect their privacy. Participants, including producers of security products and security related software, implementers and other service providers, and industry associations joined together during the past year to develop a baseline of industry-wide guiding principles for consumer privacy, with input from consumer advocates. The guiding principles are being developed with the understanding that providers of smart home security products and services must continually earn the trust of their customers by prioritizing their privacy as well as their safety. The principles will evolve with the changing smart home and security landscape, addressing top-of-mind issues such as facial recognition and analytics. Current areas of focus include: Privacy by Design - Consumer privacy should be embedded in all areas of the security industry, and that begins with the design of the products used to help protect and connect customers. Transparency - Providers of security products and services must spell out in clear and understandable terms how they collect, use, share, and retain sensitive data. Handling of Audio and Video - Security providers will only share audio or video with first responders with their customers’ prior consent, or as required by law, and will not otherwise access a customer’s audio or video without the customer’s knowledge. Data Correction and Deletion - Security providers will create an easily accessible process for customers to request that personal information collected by that provider be deleted. Customers can also request that data errors be corrected. Guidance and Use - Providers of security products and services will equip customers with information that empowers them to use their security products and services in a manner that better enhances everyone’s privacy. This could involve adjusting data collection settings, setup of cameras, or establishing video and audio data retention timeframes that work best for them. Accountability - Providers of security products and services will commit to additional accountability measures, such as independent privacy assessments. The Consumer Privacy Initiative is an ongoing effort. To date, the following organisations have collaborated in developing the guiding principles, and ADT invite other organisations to join in support of this effort: ADT, a provider of security, automation, and smart home solutions serving consumer and business customers in the United States. Alarm.com, a platform for the intelligently connected property. Electronic Security Association, a trade association in the United States representing the electronic security and life safety industry. Security Industry Association (SIA), a trade association for global security solution providers, with more than 1,000 innovative member companies representing thousands of security leaders and experts who shape the future of the security industry. Sercomm, a manufacturer and supplier of telecom equipment. TrustArc/Nymity, who provides solutions to manage privacy compliance for the GDPR, CCPA and other global privacy regulations. Vector Security, a provider of intelligent security solutions tailored to the needs of the customer.
ADT, a provider of security, automation, and smart home solutions serving consumer and business customers in the United States, will showcase new products and security services at the 2020 International CES designed to serve the lifestyles of more consumers, wherever they are, whether in their homes, apartments, cars, online or on the go. Innovations from ADT include a new DIY smart home security brand and products, new smart home integrations for the award-winning ADT Command and Control smart home security system, and mobile security solutions that integrate with popular application-based services, such as Lyft. CES 2020 The ADT booth will be in the main hall of the Las Vegas Convention Centre (booth #12007) for the first time with an experiential smart tech safety showcase that demonstrates the breadth of offerings ADT delivers through its human protection platform. Guests will get a first-look at all the new ADT and Blue by ADT DIY products and services, speak with ADT safety and security professionals, and enjoy entertainment and custom dessert creations. Everything ADT does is purposefully designed to protect and connect what matters most to our customers" “At this year’s CES, we are proud to showcase ADT’s tech-forward and innovative products which, along with our strategic business partnerships, address the changing lifestyle needs of today’s consumer,” said Jim DeVries, President and CEO of ADT. “Everyone has the right to feel safe, and in our evolving world, everything ADT does is purposefully designed to protect and connect what matters most to our customers.” Blue by ADT ADT is retooling its DIY smart home security portfolio with the launch of a new brand, Blue by ADT, which will initially include three stand-alone smart cameras and a Wi-Fi extender plus doorbell chime. Founded on the pioneering work of LifeShield, acquired by ADT in 2019, Blue by ADT provides lifestyle-driven security solutions for customers who prefer the flexibility of highly portable equipment and no-contract, month-to-month professional monitoring options. The LifeShield brand has become Blue by ADT, and LifeShield systems will continue to be supported by the Blue by ADT team and are interoperable with Blue by ADT cameras. Blue by ADT works with Apple HomeKit, Google Assistant, Amazon Alexa, and IFTTT so customers have more options to integrate their smart home devices for a seamless, fully integrated DIY smart home and smart security solution. Blue by ADT customers will have phone access to live support professionals to guide them through the setup process Three Blue by ADT smart cameras and a Wi-Fi Extender + Chime will be available for pre-order on Jan. 6 and will begin shipping before the end of January. Additional Blue by ADT security system components, including a base, keypad and sensors will launch in spring 2020. All three Blue by ADT smart cameras are priced at $199.99 each, and the Blue by ADT Wi-Fi Extender + Chime is priced at $49.99. Blue by ADT customers will have phone access to live support professionals to guide them through the simple setup process if needed. Safe by ADT Safe by ADT is a new, data-driven mobile safety solution providing partners with a platform to extend the safety and security of ADT’s professional monitoring services within their own mobile app experience. A first-look at a new pilot program rolling out to 10 U.S. cities in January with rideshare company Lyft will be on display in the ADT booth. The ADT-powered safety feature within the Lyft app discreetly connects Lyft users who feel unsafe, by voice or SMS chat, with a security professional at one of ADT’s owned and operated monitoring centres. After contacting the user, or if there is no response, the ADT security professional will alert authorities as needed so they can arrive at the user's location, equipped with detailed incident information. ADT Command and Control ADT will offer a new DIY installable device that integrates with ADT Control, allowing customers to track their vehicles ADT is introducing new products and enhancements to its award-winning ADT Command and Control professionally installed security and smart home system at CES 2020 to give customers more ways to integrate smart home security functionality into their homes and beyond. New for ADT Command and Control in 2020 Connected Car Integration: In January, ADT will offer a new DIY installable device that integrates with ADT Control, allowing customers to track their vehicles. In addition, customers can create home automations that respond to GPS positioning of their vehicle so their smart home can prepare for their arrival or departure based on their location. E.g. turn on or off lights, open the garage door, unlock locks, adjust the temperature. Streaming Video Recorder: In Spring 2020, ADT will introduce a new 720p streaming video recorder to keep customers’ security video footage accessible and private in their home. It allows for continuous recording of up to eight devices with up to 1TB of storage. Pro Series Cameras: Launching in March 2020, ADT will roll out new Pro Series indoor, outdoor and mini dome cameras with 1080p HD video capabilities. Enhanced Analytics: In the first half of 2020, ADT Command and Control will incorporate new, enhanced analytics to improve video detection and filtering of subjects. In addition to noting the difference between people, vehicles, and pets, the system can also detect if a visitor is loitering too long.
ADT Inc, a provider of security, automation, and smart home solutions serving consumer and business customers in the United States, announced that it has acquired Defenders, its largest independent dealer and only Authorised Premier Provider, for a purchase price of approximately $381 million. As part of the transaction, Defenders founder David P. Lindsey and Jessica A. Lindsey received approximately 16.3 million shares of ADT common stock for 100% of their ownership in Defenders, while the remaining $260 million of consideration was paid in cash to retire existing Defenders debt, fund other liabilities, and pay transaction expenses. The cash consideration was partially funded from existing revolving credit facilities. Financial and operational advantages Together, we will have greater marketing efficiency through unified brand messaging: “We’re excited to officially join forces with the impressive Defenders team after successfully partnering with them for nearly 22 years so that, as one company, we can create a unique and simplified platform,” said Jim DeVries, ADT’s President and Chief Executive Officer. “This opportunistic acquisition creates numerous strategic, financial and operational advantages for ADT, and is consistent with our stated goal of driving down the capital intensity of the business as we seek to drive long-term, profitable growth.” Mr. DeVries continued, “Together, we will have greater marketing efficiency through unified brand messaging, enhanced control of the customer experience, and the ability to provide a full suite of innovative security and home automation products, including consumer financing, to a complementary geographic footprint. Over time, we also expect lower subscriber acquisition costs, an improved revenue payback period, and new account gains from the optimisation of our combined ecosystem.” Smart home solutions “We have built our business by partnering with ADT to sell and install state-of-the-art security systems, helping to protect more than 2.2 million families through our best-in-class marketing team and expert knowledge of the industry,” said David Lindsey, Chairman and Founder, Defenders. “Given this longstanding and productive relationship, we are proud that this transaction will integrate us even closer into the ADT team, and I am excited to be a significant shareholder and see the benefits we are able to deliver to customers as a combined company.” “We are thrilled to join the ADT team,” said Jim Boyce, President & CEO, Defenders. “This acquisition brings our direct response marketing capabilities, best in class sales expertise and national reach to a provider of security, automation, and smart home solutions. Together, we will be better positioned to leverage the trusted ADT brand, improve the combined company’s go-to-market operations and deliver an enhanced customer experience.” Simplifies Operating Ecosystem Strategic and Financial Benefits of Transaction : Enhances Customer Experience: Provides ability to drive a unified brand message and premium customer experience to the majority of ADT’s residential customers. Simplifies Operating Ecosystem: Establishes a single party focused on the customer experience and lifetime value, and reduces channel conflict and potential for customer confusion. Improves Marketing Prowess: Leverages Defenders’ strengths in customer acquisition to drive optimised spend across channels and enable more effective marketing messaging and customer segmentation. Innovative equipment and service offerings Increases Go to Market Efficiency: Significantly enhances ability to bring new initiatives to a broader customer base more quickly, including consumer financing, DIY, and innovative equipment and service offerings. Drives Capital Efficiency: Results in a more capital efficient ADT through the elimination of dealer “margin.” Expected to be modestly beneficial to 2020 net cash provided by operating activities and free cash flow before special items and to create synergies to further drive net cash provided by operating activities and free cash flow before special items in subsequent years.
ADT, a security and automation provider serving residential and business customers, announces a partnership to integrate mobile safety solutions into the Lyft platform. Extending ADT’s safety and technology to mobile applications will bring an additional layer of security to Lyft’s rideshare experience. With ADT’s mobile safety platform, Lyft seeks to give riders and drivers more peace of mind. The pilot will focus on an ADT-powered safety feature within the Lyft app that will discreetly connect Lyft users who feel unsafe - by voice or SMS chat - with a security professional at one of ADT’s owned and operated monitoring centers. Detailed incident information After contacting the user, or if there is no response, the ADT security professional will alert authorities as needed so they can arrive at the user's location, equipped with detailed incident information. “As a rideshare company with an exceptional commitment to rider and driver safety, Lyft is the ideal partner for ADT,” said Jim DeVries, President and CEO of ADT. When it comes to safety, there is no better partner for Lyft than ADT" “We look forward to working closely with the Lyft team as together we bring our industry-leading technology to rideshare riders and drivers. We continue to leverage our deep expertise, technology and the trusted ADT brand to expand our reach into new areas of security beyond the home and business. Partnering with Lyft broadens our exposure while enabling ADT to further realise our mission and belief that people deserve to be safer and more secure wherever they are.” Professional monitoring services ADT’s data-driven mobile safety solution provides Lyft with a platform to extend the safety and security of ADT’s professional monitoring services to its users within its mobile app experience. Beginning in early 2020, Lyft intends to pilot the ADT mobile safety solution in nine U.S. markets including Chicago, Los Angeles and New Jersey, with potential to implement nationally to Lyft’s 30 million riders and 2 million drivers. “When it comes to safety, there is no better partner for Lyft than ADT,” said Ran Makavy, EVP and Chief Product Officer of Lyft. “We are extremely excited to enter into this partnership and look forward to a meaningful, industry-leading collaboration.”
ADT Inc., the smart home security provider serving residential and business customers, announced that it has entered into a definitive agreement to sell ADT Security Services Canada, Inc. (“ADT Canada”), to TELUS Corporation (“TELUS”) for approximately CAD $700 million in cash, subject to certain adjustments. The transaction comprises all of ADT Canada’s operations and assets. “Opportunities continue to develop for ADT in the areas of smart home integration, the expansion of the home security business into new demographics and ADT’s growth in commercial security,” said Jim DeVries, President and CEO, ADT. “The sale of our more capital intensive Canadian operations enables us to sharpen our focus on the exciting growth and higher margin opportunities in the U.S., where we can more efficiently invest our time and resources. Importantly, these emerging opportunities are ideal for leveraging the trusted ADT brand as we continue generating strong free cash flow to drive shareholder value over the long term.” One-time special dividend The Company also announced that its Board of Directors authorised a one-time special dividend (“Special Dividend”) of up to $550 million and plans to set the dividend at $0.70 per share. The Special Dividend is conditioned upon the closing of the transaction and is subject to subsequent corporate action, and therefore may not be in that amount, or occur at all.ADT plans to continue to execute on its previously disclosed capital allocation framework Details of the Special Dividend, including the record date for shareholders eligible to receive the Special Dividend and the payment date of the Special Dividend, will be provided in conjunction with the closing of the transaction. Opportunistic bolt-on M&A opportunities The Company expects to incur a non-cash charge in the third quarter in connection with the transaction, which may be material to ADT’s earnings. ADT plans to continue to execute on its previously disclosed capital allocation framework, which balances organic investments in the business, opportunistic bolt-on M&A opportunities, returning capital to shareholders and de-levering over time. For the fiscal year ended December 31, 2018, ADT Canada generated revenue of USD $229 million. The transaction is expected to close in the fourth quarter of 2019, subject to customary closing conditions and other business requirements, including approval of the transaction by the Canadian Competition Bureau. RBC Capital Markets and Barclays are serving as financial advisors to ADT and Osler, Hoskin & Harcourt, LLP is serving as legal advisor.
ADT Inc., a provider of monitored security and interactive home and business automation solutions in the United States and Canada, announces that it has acquired LifeShield, LLC, a pioneer in advanced wireless home security systems, in a transaction valued at approximately $25 million. John Owens will continue in his current capacity leading the LifeShield team. Founded in 2004, LifeShield was the first to bring a wireless DIY home security offering to the residential market. Over the past 15 years, LifeShield has further redefined residential home security, improving interactivity, advancing video capabilities and enhancing the overall user experience. Monitored home security The addition of LifeShield’s innovative technology to ADT’s security and automation solutions and expertise increases ADT’s ability to address the approximately 80% of U.S. households who do not have professionally installed and monitored home security. We are confident that LifeShield’s capabilities and approach, combined with the brand and scale of ADT" “As more consumers look for real protection solutions that only ADT can provide, we look for companies that share our passion for security, customer service, and innovation,” said ADT President and CEO Jim DeVries. “We are confident that LifeShield’s capabilities and approach, combined with the brand and scale of ADT, will create an opportunity for us to offer our services to a broader cross-section of U.S. households.” Best security solutions “Together with LifeShield we will be positioned to offer more solutions to a broader base of customers and create increased value for our shareholders as we seek to grow profitability through expanded, yet focused offerings.” “This combination unites the passion and commitment of two organisations that are focused on security,” said Mike Hagan, LifeShield Chairman, who will continue as an advisor. “Leveraging ADT’s significant experience integrating products, we look forward to working together to ensure a seamless transition and capitalise on the attractive market opportunities in the DIY segment. Together we will continue to advance our strategy to deliver the best security solutions to our customers at every stage of their lives.”
ADT Inc., a provider of monitored security and interactive home and business automation solutions in the United States and Canada, announces that P. Gray Finney, Senior Vice President and Chief Legal Officer, will be retiring. As his successor, David Smail has been named Executive Vice President and Chief Legal Officer, reporting to ADT President and Chief Executive Officer Jim DeVries, based in Boca Raton, FL. His appointment is effective immediately. Business strategy “David’s public company experience and leadership will continue to support ADT’s successful execution of our business strategy and will be instrumental in our continued growth,” said DeVries. Gray has been an integral part of our leadership team and we are grateful for the tremendous contributions he has made to ADT during his tenure" “Gray has been an integral part of our leadership team and we are grateful for the tremendous contributions he has made to ADT during his tenure,” added DeVries. “He has played a central role in a number of key events and transactions for the Company, including our IPO in early 2018, providing thoughtful counsel to the leadership team and always leading with integrity.” Technology-based products Smail brings more than 25 years of experience in the U.S. and internationally, including 10 years of law firm corporate and securities transactional practice, and more than 15 years in public company general counsel roles. He most recently served as Executive Vice President & Chief Legal Officer for Scientific Games Corporation, a developer and provider of technology-based products, systems, platforms and services for the global gaming and lottery industries. Prior to that he held the role of Executive Vice President & General Counsel at Morgans Hotel Group, an international hospitality company, and previously was Executive Vice President and Group General Counsel of global advertising and communications services business Havas S.A. He also was a partner in the international law firm Hogan Lovells (previously Hogan & Hartson).
ADT Inc., a provider of monitored security and interactive home and business automation solutions in the United States and Canada, announces its intent to lead a new consumer privacy initiative with a coalition of organisations committed to driving the adoption of privacy standards and best practices across the home security industry. The initiative will focus on ensuring the security and home automation industry take a leadership role in protecting consumer privacy. Launched on Data Privacy Day, these efforts build on ADT’s promise to protect what matters most. Implement high standards Every day millions of our customers trust us with what they love and cherish the most, including their privacy" According to data released in November by market-research firm Harris Poll and public relations firm Finn Partners, data privacy is the most pressing issue for those surveyed, and consumers are looking for companies to be proactive in protecting their data. With considerable growth and technology innovation in the security industry, the prioritisation of privacy is higher than ever before. “Every day millions of our customers trust us with what they love and cherish the most, including their privacy. That is why our privacy practices are purposefully designed to ensure we continue earning their well-placed trust,” said Jim DeVries, President and CEO, ADT. “This initiative is part of our ongoing commitment, as the market leader in home security, to implement high standards for our industry, and as we look at the future of technology and access, align our industry around standards and practices that better protect consumers.” Customer-centric In the coming months, the initiative will focus on three key objectives: Adopting a set of industry-wide best practices that are customer-centric and drive transparency. Working with dealers, partners and other industry organisations on the enhanced privacy and ethical standards for our industry. Programs focused on privacy, ethics, and transparency. Protecting data privacy Partners in this initiative currently include: Security Industry Association (SIA), the trade association for global security solution providers, with nearly 900 innovative member companies representing thousands of security leaders and experts who shape the future of the security industry. The Monitoring Association, an internationally-recognised, non-profit trade association representing professional monitoring companies. Electronic Security Association, the largest trade association in the U.S. representing the electronic security and life safety industry. The Internet Society’s Online Trust Alliance, an organisation that identifies and promotes security and privacy best practices that build consumer confidence in the Internet, in part through its IoT Trust Framework. TrustArc, who provides solutions to manage privacy compliance for the GDPR, CCPA and other global privacy regulations. The Security Industry Association is pleased to support this important broad-based effort led by ADT to ensure the privacy of consumers" “The Security Industry Association is pleased to support this important broad-based effort led by ADT to ensure the privacy of consumers,” SIA CEO Don Erickson said. “SIA has taken a leading role on privacy issues through its Data Privacy Advisory Board, and we look forward to working with our partners on this project to demonstrate that members of the industry are as committed to protecting data privacy as they are to securing people and property.” Managed commercial solutions ADT is soliciting participation from all other organisations who wish to help drive these objectives. For over 144 years, ADT has been committed to keeping families and homes safe. ADT evolved this mission by extending physical security to cybersecurity for residential customers with Identity Theft Protection, which provides monitoring and support to help customers minimise their risk of identity theft and loss exposure. ADT also offers cybersecurity solutions for enterprise and small businesses, providing monitored and managed commercial solutions that protect customers from multiple vectors of attack, including network, endpoints, servers, and email communications.
ADT Inc., global provider of monitored security and interactive home and business automation solutions in the United States and Canada, has announced that it has completed its acquisition of Red Hawk Fire & Security, provider of commercial fire, life safety and security services and portfolio company of Comvest Partners. Commercial security and fire safety “We are pleased to complete this transaction, which strengthens ADT’s growth in the commercial security market and meaningfully expands the company’s product portfolio with the introduction of commercial fire safety related solutions,” said Jim DeVries, ADT’s President and Chief Executive Officer. He further added, “With the added robust portfolio of fire and life safety solutions, as well as additional scale through commercially-focused sales professionals and technicians, we enhanced our position as a leader in commercial security, just as we are today in the residential market. ADT has a strong track record of successfully integrating acquisitions and we look forward to welcoming the talented Red Hawk team to the company.” Moving forward, Red Hawk’s ability to showcase its products and services to a wider range of National Account and enterprise-level customers will be significantly accelerated with ADT, while also increasing ADT’s technician workforce dedicated to the commercial customer.
ADT Inc., the provider of monitored security and interactive home and business automation solutions in the United States and Canada, announced it has entered into a definitive agreement to acquire Boca Raton, FL-based Red Hawk Fire & Security, a leader in commercial fire, life safety and security services and portfolio company of Comvest Partners, for $317.5 million in cash. This transaction accelerates ADT’s growth in the commercial security market and expands the company’s product portfolio with the introduction of commercial fire safety related solutions. It is the latest in a series of strategic acquisitions made over the last year to drive commercial growth and build on ADT’s strong foundation of superior customer service. With the addition of Red Hawk, ADT will have an increased geographic footprint and enhanced customer service capabilities across the nation. Revenues from the combined company’s business customers are expected to represent approximately 25% of total revenue. Red Hawk is a pioneer in the design, installation, integration, monitoring and servicing of commercial fire, security and life safety solutionsOffers mission-critical solutions Red Hawk is a pioneer in the design, installation, integration, monitoring and servicing of commercial fire, security and life safety solutions. Red Hawk represents one of the few last independent large national commercial integrators, offering complex, mission-critical solutions across its 45 district locations and is expected to generate approximately $300 million of revenues in 2018. In recent years, Red Hawk has demonstrated double-digit revenue growth across a diverse set of customers, markets and geographies, leveraging its strong local presence backed by its nationwide footprint and differentiated fire and security expertise. Expanding business and service capabilities “Commercial security is one of the core pillars of ADT’s growth strategy and today’s announcement marks a significant step in our concerted efforts to expand our commercial business with the critical capabilities and services that our customers expect,” said ADT President and incoming CEO, Jim DeVries. We are excited to welcome the talented and experienced Red Hawk team to the ADT family while expanding our geographic reach"“Red Hawk’s exceptional portfolio of commercial fire and security solutions complements ADT’s existing commercial business, positioning us to provide a superior customer experience at a local and national level. We are excited to welcome the talented and experienced Red Hawk team to the ADT family while expanding our geographic reach, service capabilities and product offerings. Having long admired Red Hawk, we are confident that combining the strengths of our two companies will allow us to deliver increased value to our customers and shareholders.” Providing high-quality customer service “We are delighted to join a company with ADT’s resources, growth potential and shared commitment to providing high quality customer service and innovative solutions to customers,” said Red Hawk President and CEO Michael McWilliams. “We look forward to our future with ADT, which we are confident will help us to achieve our next phase of growth.” “It was a rewarding and collaborative experience working with Michael McWilliams, Mark Foley, Red Hawk’s CFO, and the other members of Red Hawk’s senior management team to build Red Hawk into a market leader from our original acquisition, and Red Hawk is positioned to continue to thrive under ADT’s leadership,” said Roger Marrero, the Managing Partner of Comvest Partners. Strategic and financial benefits of transaction Substantial increase in scale to accelerate ADT’s commercial growth: The combined commercial business will have substantially increased scale with an expanded commercial technician work force that will allow the company to meet growing customer demand across the U.S. and provide enhanced customer service capabilities. This transaction creates the opportunity to leverage the capabilities of both organisations to create a more robust and differentiated commercial security offering in a highly fragmented industry. Introduction of fire safety solutions: This transaction expands ADT’s product portfolio with the introduction of Red Hawk’s fire safety solutions, allowing the company to become a single destination for both fire and security needs at the commercial level. The company intends to leverage Red Hawk’s fire safety solutions and expertise to help capture new business opportunities with new and existing customers. Compelling long-term financial benefits: Given the strong financial and operating profile of Red Hawk’s business – which, similar to ADT’s growing commercial and multi-site businesses, has a very attractive net customer acquisition cost and retention characteristics – the acquisition is expected to be accretive to free cash flow generation, before taking into account meaningful expected cost benefits. The completion of the transaction is subject to customary closing conditions, including regulatory approvals. The transaction is expected to close by the end of the fourth quarter 2018.
ADT Inc, the provider of monitored security and interactive home and business automation solutions in the United States and Canada, announces a new strategic initiative with Amazon. Starting later this year, ADT will support integration of Amazon’s new Alexa Guard feature with the ADT Pulse security system, helping ADT customers enhance their home’s security capabilities by detecting specific sounds via the customer’s Echo device when they’re away from home. Once available, ADT professional installation and monitoring solutions will be offered to customers through the Alexa Guard website and Amazon mobile app. ADT worked closely with Amazon to seamlessly integrate Alexa Guard with ADT’s Pulse security system and professional monitoring to enhance ADT customers’ security when they’re away from home. Security monitoring services Customers with an ADT Pulse system using Alexa Guard can choose to forward Smart Alerts to ADT monitoring professionals When a customer enables Alexa Guard on their Amazon Echo device and says “Alexa, I’m leaving,” Alexa will notify the customer if she detects the sound of smoke alarms, carbon monoxide alarms or breaking glass while the customer is away. These notifications, called Smart Alerts, are delivered to a customer’s smartphone to let them know which sound was detected, and provide an audio clip of that event. Customers with an ADT Pulse system using Alexa Guard can choose to forward Smart Alerts to ADT monitoring professionals to help determine if additional action should be taken, including dispatching first responders if needed. “In 2018, ADT set out to redefine security with innovative products and services, such as ADT Go and Digital Security. The integration of Amazon’s Alexa Guard with ADT’s Pulse security system and professional installation and security monitoring services is an exciting next step on our innovation roadmap and our successful collaboration with Amazon,” said Jim DeVries, current President and incoming CEO of ADT. Homes even smarter “Amazon’s vision to simplify the smart home experience through voice-enabled action matches perfectly with ADT’s passion for security and customer service, making us natural collaborators to ensure our customer’s smart home is a safe home. Today’s announcement will extend our footprint in the security and automation space, open new eCommerce sales and marketing channels for our products and services, and further expand our leadership in the category. We look forward to continuing to work alongside Amazon to provide innovative security solutions to our customers and broader audiences.” Customers love using Alexa to help make their daily lives easier, and we continue to build new voice-first experiences to make customers’ homes even smarter" “Customers love using Alexa to help make their daily lives easier, and we continue to build new voice-first experiences to make customers’ homes even smarter,” said Daniel Rausch, Vice President, Amazon Alexa. “ADT has over 140 years of experience in the professional security installation and monitoring business. We’re so excited to team up with them for the launch of Alexa Guard. Since ADT brought the simplicity of Alexa voice control to their home security systems, we’ve heard from customers that they enjoy the added convenience and peace of mind they have using the ADT Pulse skill.” Enhanced home security “Now, with Alexa Guard we’re making that experience even better for customers. When Alexa Guard is enabled, customers can choose to have their Echo devices detect the sounds of smoke alarms, carbon monoxide alarms, or breaking glass when they’re away from home. When the selected sound is detected, customers with ADT Pulse will be able to forward their Smart Alerts to ADT, offering an extra layer of security.” Later this year, ADT will offer new Echo devices directly to new and existing customers, assisting with product set-up and additional support for those who purchase the device through ADT. Additionally, ADT and Amazon are working together to provide offers and promotions to Amazon customers for ADT services and solutions, creating eCommerce opportunities for ADT while enabling customers to have enhanced home security options nationwide.
ADT Inc., a provider of security and automation solutions for homes and businesses, announced Digital Security by ADT, a new cybersecurity service that will offer peace of mind at home and on-the-go by helping protect a customer’s personal identity, digital data, home network and financial information. Identity Protection will be exclusively available on ADT’s enhanced e-Commerce platform, providing convenience and clarity for customers to shop for their security needs when and how they want. Cyber threat prevention “Since ADT began in 1874, our mission has been to help keep families and homes safe,” said Jim DeVries, current President and incoming Chief Executive Officer of ADT. “With online threats occurring more often than ever before, our mission evolved to not only help protect the premises, but also people on the go and their network and digital identity. On average, cyber-attacks are happening every 39 seconds, and Digital Security by ADT is an opportunity to extend the breadth and scale of our security monitoring to our customers’ personally identifiable information and network.” Digital Security by ADT provides cybersecurity options for every consumerWith nearly eight in ten people experiencing, or knowing someone who has experienced, cybercrime, digital protection has never been more important. Digital Security by ADT provides cybersecurity options for every consumer, including different levels of identity theft monitoring and protection, a personal secure virtual network (VPN) for easy and secure app-based Wi-Fi privacy outside of the home, and home network security using the secure Wi-Fi router, which can be installed by a trained ADT technician in minutes. Digital Security services and products Identity Protection: Provides monitoring and support to help customers minimise their risk of identity theft and loss exposure. In addition to enabling customers to track their credit report activity and score so they can keep tabs on potentially fraudulent use of their credit, the service also includes: change of address notifications, public courts and criminal records monitoring, and 24/7 fraud incident resolution with up to one million dollars in Identity Theft Expense Reimbursement. Dark Web Defense: This service will help protect customers by continually monitoring the public and private internet, notifying customers of possible suspicious activities associated with their personally identifiable information, including SSN, DOB, Passport, Driver’s License, Medical ID number, credit/debit cards, bank accounts, telephone numbers and email addresses. Once alerted, customers can take proactive steps, such as calling ADT experts available 24/7 to begin fraud incident resolution services. As with all ADT services, Digital Security by ADT is supported by 24/7 live agent support Secure VPN: A powerful, yet easy-to-use, app for Windows, Mac, Android, and iOS devices that helps shield user’s information from cybercriminals attempting to hack into a user’s public Wi-Fi connection and intercept the data being sent to and received from computers or mobile devices. The app also enables anonymous browsing and access to users’ favorite apps and content anywhere they go, as if they were at home. Home Network Protection: Encompasses multiple digital security offerings, including an ADT-installed secure Wi-Fi router that helps protect customers’ home networks and an unlimited number of connected devices from cyber threats, as well as Secure VPN services, Sex Offender monitoring, Dark Web Defense, and 24/7 fraud incident resolution with up to $25k in Identity Theft Expense Reimbursement. 24/7 security support As with all ADT services, Digital Security by ADT is supported by 24/7 live agent support. ADT’s comprehensive set of products offer customers peace of mind at home and on the go, helping them stay safe from cybercrime – and instead focus on their families and homes.
ADT Inc., global provider of security and automation solutions for homes and businesses, has announced that Jochen Koedijk has joined the company as its Chief Marketing Officer. Koedijk joins ADT from Chewy.com where he served as the Vice President, Marketing. Reporting directly to ADT President Jim DeVries, Koedijk will be responsible for delivering innovative digital and brand marketing strategies and initiatives that drive profitable business growth. ADT’s new marketing head Previous to Chewy.com, Jochen held roles at Amazon and Electronic Arts. During his time at Amazon, he led worldwide Social Media and New Channel Advertising, overseeing a cross-functional team of more than 70 people and achieving triple digit year-over-year growth. As a member of Electronic Arts’ digital business unit leadership team, Jochen led in-house global performance marketing operations for the company’s Console, PC, and Mobile games business lines. “Customer retention and lead-generation is significantly driven by digital engagement, and Jochen’s leadership experience with world-class organisations such as Amazon, Chewy, and Electronic Arts is an immediate asset to our organisation,” said DeVries. “Jochen is a marketing innovator, and we’re excited for him to build upon the ADT brand for our next generation of customers.” Given the tremendous innovation in the home security and automation space, I couldn’t think of a better time to join ADT" Innovations in home security and automation “Given the tremendous innovation in the home security and automation space, I couldn’t think of a better time to join ADT, North America’s most recognisable security leader,” said Koedijk. “I look forward to collaborating with my colleagues to continue providing world-class customer service and scaling our business through new and disruptive channels.” Koedijk holds his degrees in Business Administration and Social Sciences from the VU University in Amsterdam, NL. Jamie Haenggi, who has been overseeing the Marketing function as part of her responsibilities, will become the company’s Chief Customer Officer. Customer strategy and retention remains the single most important part of the business, and Haenggi’s broad and deep experience will be central to enhancing customer engagement. Jamie is one of our most versatile executives" Customer strategy and retention “Jamie is one of our most versatile executives. Her passion for the customer, strategic approach and vision for customer experience is instrumental to improving customer retention, maintaining best-in-class customer service and designing a roadmap for further customer engagement and growth,” added DeVries. “We have made tremendous strides in our customer experience over the past two years,” said Haenggi. “I’m excited to lead the company’s efforts to further design and execute the customer strategy to deliver greater value, retention and an experience that continues to differentiate ADT in the marketplace.”
ADT Inc., a provider of monitored security and interactive home and business automation solutions in the United States and Canada, and Cofense, provider of human-driven phishing defense solutions worldwide, have announced a partnership to offer phishing detection and response to ADT customers. ADT Cybersecurity provides enterprise and mid-market businesses with managed detection and response (MDR) services to combat advanced cyberthreats in real time. This service is now augmented by Cofense Triage, the first phishing-specific automated incident response platform. “As our commercial customer needs expand beyond the physical into the cyber realm, this offering immediately enhances our current cybersecurity solution that ADT is providing to organisations,” said Jim DeVries, President, ADT. “Phishing emails are among the most dominant form of social engineering attacks today, and by adding Cofense Triage phishing defense to our managed service and detection, we can mitigate phishing threats quickly and effectively.” ADT Cybersecurity provides a unified platform for organising, managing, and collecting cyber intelligence and automates security analyst workflows Cofense Triage “We are very excited to scale Cofense Triage for ADT customers,” said Rohyt Belani, CEO and Co-founder, Cofense. “Relying on perimeter technologies, alone, is a failing proposition to defend against email-borne attacks. The combination of Cofense’s Triage technology and ADT’s managed services skillset brings to market a unique solution focused on thwarting phishing attacks before they cause damage, by moving the detection of such attacks up the kill chain.” Data breaches caused by cyberattacks on networks are plaguing businesses of all sizes. The median time of compromise to discovery is 80 days, with the average cost of data breach costing organisations $3.62 million. ADT Cybersecurity provides a unified platform for organising, managing, and collecting cyber intelligence and automates security analyst workflows to close the gap between cyberattack and breach detection time and remediation for customers.
ADT, a provider of monitored security and interactive home and business automation solutions in the United States and Canada, announced the acquisition of Acme Security Systems. Acme will join forces with recently acquired Aronson Security Group (ASG) to further drive commercial growth and expansion. Headquartered in San Francisco and founded in 1974, Acme is among one of the largest privately held security systems integrators in the Bay Area, focusing on electronic security systems, access control, video networks and more. “ADT and Acme have a shared vision for exceptional service, and this alliance not only enhances our leadership in the market, but substantially extends our service capabilities for our valued customers,” said ADT President, Jim DeVries. “We’re thrilled to welcome the talented Acme team members as contributors in a significant chapter of ADT’s history.” “For our employees to unite with one of the most successful and recognisable security brands in history is a true honor,” added Steve Harris, Founder of Acme Security Systems. “ADT believes in their ability to provide unparalleled service to the commercial and national account market, and their enthusiasm is infectious. Together, we’ll be able to provide significant value for current and future customers.”
ADT Inc., a global provider of monitored security and interactive home and business automation solutions in the United States and Canada, announced the completed acquisition of Aronson Security Group, Inc. (ASG). Headquartered in Renton, Washington, and in the security business for 55 years, ASG employs nearly 170 team members, including risk and security programme consultants, advanced integration services, consulting and design engineers and a National Program Management team, as well as technicians and business development and project managers, who work from locations across the United States. Customer-centric philosophy “Our commercial growth strategy incorporates acquisitions that bring both talent and resources to ADT that will not only extend our capabilities, but also serve as the right cultural fit with our customer-centric philosophy," said ADT President, Jim DeVries.ADT provides a unique platform for us to continue to focus on customers with scale in new geographic and vertical markets "We see Phil Aronson and his team at Aronson Security Group as a great addition to the ADT family in those regards – highly experienced in the integrated security solution market, tremendous leadership capabilities, and a true passion for the customer – all the right components as we focus on strategic growth.” “Our goal from the beginning was to create exceptional value for the security executive and their team and change how the industry advanced that value into the business,” said Phil Aronson, ASG CEO and President. “ADT provides a unique platform for us to continue to focus on customers with scale in new geographic and vertical markets. I share a great deal of excitement with our leadership team for our employees and our customers to come together with an industry leader like ADT.”


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The average retail price for gasoline in Tampa has fallen 6.4 cents over the past week, now averaging $3.16 a gallon.
Even with the recent price drops in the Tampa Bay area, gas is only 2.2 cents lower per gallon than a year ago, according to GasBuddy.com.
The national average price of gas has declined about 25 cents from Nov. 1, from $3.51 to $3.26, according to a brief from AAA.
The average price in Florida is currently averaging $3.27, slightly slower than a week ago at $3.29, the brief said.
GasBuddy operates TampaGasPrices.com, which tracks gas prices across the United States.

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Two-thirds of the 4,000 positions being cut from the unit — which primarily makes Android mobile phones — will be outside the U.S., Google says this morning in an SEC filing. It also plans to close or consolidate a third of its 90 facilities as it shifts its emphasis from feature phones to what it calls “more innovative and profitable devices.” Google says this will result in a severance-related charge of as much as $275M — as well as other expenses — most of which it expects to recognize in Q3. The company says that “these additional charges could be significant,” but it can’t say how high they might go. “These changes are designed to return Motorola’s mobile devices unit to profitability, after it lost money in fourteen of the last sixteen quarters,” Google says. Still, it warns that “investors should expect to see significant revenue variability for Motorola for several quarters. While lower expenses are likely to lag the immediate negative impact to revenue, Google sees these actions as a key step for Motorola to achieve sustainable profitability.” Last year Google agreed to pay $12.5B for Motorola Mobility, which is also a leading manufacturer of cable set top boxes. Google shares are up slightly in pre-market trading.
Google Cuts One-Fifth Of Motorola Mobility Workforce In Effort To Make It Profitable
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For anyone wondering about the economic impact of Hurricane-turned-Superstorm Sandy, it is currently estimated to end up costing more than US$20 billion, only about half of which will be insured. This figure may well climb higher, likely making Sandy the fourth most costly weather event in the United States in the past 50 years. Most of these events have occurred in the past 20 years, and seven out of 10 have occurred in just the past eight years. Hurricane Katrina (2005) remains the all-time costliest, at well over US$100 billion, but Sandy will be the number-one costliest hurricane to strike the highly populated Northeastern United States, and it comes just one year after the US$16 billion Hurricane Irene.
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Two giant brands with very different images -- Walmart and American Express -- are partnering to sell general-purpose reloadable (GPR) prepaid cards. The unlikely pairing and its product, called Bluebird, speaks volumes about the red-hot prepaid market: It's on fire! Competition in 2012 is at an all-time peak as more players enter the market and existing players expand sales into additional channels. Consumers will benefit greatly as product pricing declines and more product choices appear on the market. Prepaid providers will have to become more efficient and nimble in order to protect margins on the business -- or risk getting squeezed out.


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Yesterday, (Sunday), as a result of routine profiling, Revenue officers seized 21,900 cigarettes at Cork Airport. The smuggled cigarettes were discovered in the carry-on baggage of two Polish nationals who had disembarked a flight from Gdansk in Poland.
The cigarettes, branded ‘L&M’ and ‘Marlboro Gold’, have an estimated retail value of approximately €15,000 representing a potential loss to the Exchequer of €11,650.
Investigations are ongoing.
This seizure is part of Revenue's ongoing operations targeting the shadow economy and the sale and supply of illegal tobacco products. If businesses or members of the public have any information regarding the smuggling or sale of illegal cigarettes or tobacco, they can contact Revenue in confidence on Freephone 1800 295 295.


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Intel is promising that its next-gen Arrow Lake CPUs will be the first gaming processor with an AI accelerator, with a built-in Neural Processing Unit (NPU).
Not only that, but its next-next-gen Lunar Lake CPUs will have 3x faster NPU performance over its upcoming Arrow Lake CPUs. Intel has an NPU inside of its new Core Ultra "Meteor Lake" CPUs inside of new 2024 laptop designs, but the company promised to bring Arrow Lake AI gaming CPUs, where Intel will take a stand with AI gaming processors in its AI fight with AMD.
Intel is calling its upcoming Arrow Lake chips the "First Gaming CPU with an AI accelerator" and will be released later this year, sometime in Q4 2024. Intel's next-gen Lunar Lake CPUs will be released later this year as well, with a totally new CPU core architecture and major IPC (Instructions Per Clock) improvements.
It looks like we're expecting major AI improvements with both AMD and Intel CPUs, with AMD's next-gen Strix Point APUs also have a 3x improvement in AI performance on upcoming Ryzen CPUs.
- Read more: Intel's next-gen Lunar Lake engineering sample CPU teased: 20 cores, 3.9GHz CPU
- Read more: Intel next-gen CPUs: Arrow Lake, Lunar Lake, Nova Lake in 2023 to 2025
Intel said at CES 2024: "Our execution on this product has been excellent and we are pleased to say that we are already shipping systems to partners. It's up and running, it's doing very well and Lunar Lake is truly the next level of AI performance for thin and light PCs".
The now current-gen Core Ultra "Meteor Lake" CPUs were the first from Intel with an NPU on-board for AI workloads, but they're aimed a laptops and portables, while the Arrow Lake CPUs later this year will be desktop CPUs for your gaming PC. Arrow Lake will mark the entry of AI into desktop Intel processors, which AMD has been proudly dominating with Ryzen AI inside of millions of processors globally right now.
Intel also had a prototype Arrow Lake processor that shows an on-die memory package that looks similar to what the company did with Meteor Lake, with two DRAM modules next to the main chip die, which has multiple tiles in a chiplet design.
Arrow Lake will provide some great uplifts in gaming performance, but Lunar Lake and its major IPC and AI performance improvements will be found inside thin and light laptops that we'll see flood the market in 2025.
Intel will be making its next-gen Arrow Lake processors feature the same hybrid CPU architecture as the laptop-focused Meteor Lake processors, with the CPU Tile on Arrow Lake made on Intel 20A (5nm EUV). In contrast, the GPU Tile is made on TSMC 3nm, compared to the Intel 4 (7nm EUV) and TSMC 5nm used on Meteor Lake.
Intel Meteor Lake processors feature P-Cores based on the Redwood Cove CPU architecture, while the E-Cores are based on the Crestmont CPU architecture. Intel's next-gen Arrow Lake processors will have upgraded P-Cores based on the Lion Cove CPU architecture and E-Cores based on the Skymont CPU architecture.


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Port Canaveral reached a historic milestone with the inaugural arrival of the Saga Welco vessel, Saga Morus, the first ship to dock and unload at the Port’s newly-renovated North Cargo Berth 3 (NCB3). The Saga Morus, carrying approximately 11,000 cubic meters of high-quality OSB plywood from Latvia, equivalent to 4,189 bundles for Kronospan USA, a renowned wood-based panels manufacturer based in Alabama. The vessel measures over 650 feet long, 160 feet high, and 105 feet wide.
“We are excited to mark the operational launch of the reconstructed North Cargo Berth 3,” stated Capt. John Murray, Port Canaveral CEO. “This is the beginning of a new era for our port, broadening the foundation for continued growth of our cargo operations and fostering future business opportunities.”
Mike Noyes, President of Ambassador Services International (ASI), a terminal operator at Port Canaveral, emphasized the significance of this achievement, stating, “The activation of this new berth is a monumental leap forward for cargo operations at Port Canaveral, benefiting the entire maritime community and signaling a promising future.”
Under the agreed terms with Kronospan, ASI will receive an annual supply of 64,000 cubic meters, with six ship arrivals expected each year. The OSB plywood shipments will primarily serve locations in central and southern Florida, while some deliveries will reach destinations in northern Florida and beyond state lines.
“We’re expecting this to be a long-term partnership,” said Mike Orsino, OSB plywood sales manager with Kronospan. “We currently bring material into other ports in the U.S. and looked at this as being a strategic location for us and our customers.”
Continuing the maritime traditions, Port Canaveral CEO Capt. Murray and Canaveral Port Authority Commissioner Wayne Justice, presented Saga Morus Captain Anoop Thomas with a commemorative plaque, a customary gesture for ships calling on Port Canaveral for the first time.


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Four members of the EFTTA team flew to China Fish to man the association’s booth in Beijing. CEO Jean-Claude Bel..
Singapore-based OEM, FirstDart, offered its customers a mouthwatering prospect at China Fish. Following extensive new machining and efficiency initiatives, the line maker welcomed customers to its booth with the news that it was lowering its prices for the year. International Sales Manager, Sandy Ogata, said: “New developments within the manufacturing process..
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How the “Body Positivity” Movement is still leaving men behind
Last weekend, Jonah Hill reshared a shirtless tabloid photo of himself to his Instagram, writing that he’s “37 and finally love and accept myself.” The Daily Mail published the shirtless pictures of Hill after he’d been surfing last Friday, the latest of many body-shaming pieces aimed at the actor, director, and comedian.
It’s not just the Daily Mail, though. The media has treated Hill’s body as a punchline for over a decade while his occasional weight fluctuation is reported as a moral failure. With this considered, his response to the media, by way of an Instagram post, is a show of both strength and endurance. But it also shows how the mainstream “body positivity” movement still fails men.
Hill’s post — which has been liked by 1.5 million so far — wasn’t meant to inspire pity or praise, instead, he explains, “It’s for the kids who don’t take their shirt off at the pool. Have fun. You’re wonderful and awesome and perfect.”
But the messaging to young boys is rarely this encouraging. In a similar way to women, the message given to boys and men is that there is a perfect body — and if you don’t live up to it that’s a problem. This is compounded by image-focused social media platforms like Instagram and TikTok and the almost total domination of the Marvel Cinematic Universe and the ultra-buff men who inhabit it.
For all its faults (namely prioritizing white, cis, able-bodied women), the body positivity movement had led to an increase in larger women in fashion, with stars such as Lizzo and Ashley Graham covering Vogue and three “plus-size” models recently walking for Versace’s Spring/Summer 2021 runway show. Yet as Hill himself has pointed out, the industry is still hostile to men who don’t fit within a thin, idealized body image.
“Even now, I’ll overhear someone discussing my place in the fashion world or whatever, and people are like, ‘That guy? The schlubby guy from Superbad?'” he told GQ. Over the years Hill has proven himself to be a streetwear style icon, though the title often comes with some sort of caveat. Despite regularly speaking to interviewers about his love of fashion, he’s often pegged as an unlikely style god, or praised for his surprising sartorial talent.
Last year, Savage x Fenty released its first campaign featuring “plus-size” model Steven Green in, as you would expect from a lingerie brand, his underwear. While it shouldn’t have been a big deal, this kind of representation is so rarely seen in fashion: “Seeing a man of my size shirtless for a mainstream lingerie company such as Savage X Fenty has never been done before,” Green explains to Highsnobiety.
“The body positivity movement is not greatly serving men,” the model continues. “I believe the moment that was had with Savage X Fenty was one that actually kickstarted a lot of the conversation around men and body positivity.”
Green reveals that after the campaign came out he “had so many men across the world reach out to me and express how that moment has changed their lives and allowed them to feel a confidence about themselves that they have never felt before. They finally felt seen in the media especially in fashion.”
The reaction to the campaign proves that audiences want to see more size diversity in fashion — so why are larger men still being left out?
Perhaps because women’s bodies have been scrutinized in fashion and media for over a century — and it has taken that long for the mainstream “body positivity” movement to successfully advocate for the kind of visibility we see in the media and women’s fashion. The same toxic preoccupation with men’s weight is arguably a more recent phenomenon.
It could be argued that the shift was marked by a particular Gawker think piece on “Gerard Butler’s Belly,” followed by an uptick in tabloid speculation around Leonardo DiCaprio’s minor weight fluctuations and a brief cultural fixation on the “dad-bod” physique. But the level of media scrutiny around Jonah Hill’s body specifically, borders on the perverse.
The body positivity movement has successfully made room for more diverse bodies in women’s fashion. But as the Savage x Fenty campaign made unambiguously clear, men aren’t content with being left behind anymore. And hopefully this time, the movement will include all bodies, to guard against the industry’s racism, sexism, and ableist tendencies. The intersectional approach modeled by Fenty through its campaigns and runways is carving out a new way and contributing to a media landscape where creepy, fatphobic tabloid pieces are understood as an embarrassing relic of the past.


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The price of medical marijuana could fall dramatically for some patients by mid-summer. And the drug will soon be used to treat opioid withdrawal in Pennsylvania, which will become the second state after New Jersey to allow it for that purpose.
At a news conference in Harrisburg, Secretary of Health Rachel Levine said she had approved the sale of cannabis flower, the traditional smokable or vaporizable form of the plant.
“It’s another tool,” Levine said. “The whole idea of this program is to provide another tool in the toolbox of physicians to treat these conditions.”
Since the launch of the state medical marijuana program in February, dispensaries in Pennsylvania have sold only pricey marijuana oils and extracts. Flower, also known as leaf or bud, needs no processing and is less expensive to produce.
“For some patients, the cost of their medical marijuana could drop by 50 percent with the addition of flower,” said Chris Visco, owner of TerraVida Holistic Centers, a chain of dispensaries with shops in Sellersville and Abington. “It offers the lowest price per milligram of THC, the active ingredient.”
Marijuana producer Charlie Bachtell, CEO of Cresco Yeltrah, said being able to sell plant material will streamline a large part of his production. “We just have to weigh it and put it in a container,” he said. “There’s no manual labor turning it into something else, whether it’s filling a capsule or filling a vape pen. Every time someone touches it, it makes it more expensive.”
Though smoking cannabis is prohibited by Pennsylvania law, the difference between lighting up and vaporization is literally a matter of degrees. Vaporizing requires less intense heat and a specialized electronic device so that the marijuana doesn’t combust, but the method delivers the same psychoactive and physical effects as smoking. (To discourage smoking, dispensaries are forbidden from vending pipes, bongs and rolling papers.)
Nearly all of the 29 states that have legalized marijuana in some form allow for the distribution of plant material. Minnesota and West Virginia are among the last weed-legal states with laws banning its sale.
Levine accepted more than a dozen recommendations made last week by the state’s medical marijuana advisory board. With her decision, doctors will still need to register but will be able to opt out of the published registry. Terminal illness, neurodegenerative diseases, and dyskinetic and spastic movement disorders are now qualifying conditions.
Allowing the use of cannabis to help wean people off of opioids may have the greatest impact on the state. New Jersey was the first to approve “addiction substitute therapy for opioid reduction” last month. By adding treatment for opioid withdrawal to the list of approved uses, Levine opened up the possibility for clinical research on the two drugs at state health systems.
“This is major news,” said physician Sue Sisley, founder of the Scottsdale Research Institute, where she researches medical marijuana’s effects on PTSD in veterans. “We have all these opioid task forces in so many states, and almost none of them even mention cannabis as a substitution for opioids as part of the treatment strategy.”
Sisley called Levine’s decision “courageous” but warned it could be politically “radioactive.”
“It’s a very conservative medical environment you have in Pennsylvania,” said Sisley, who serves on the steering committee of Jefferson’s Lambert Center for the Study of Medicinal Cannabis and Hemp in Philadelphia. “But Dr. Levine recognizes she needs to solve the problem and start preventing all these deaths that are all so preventable.”
Advocates applauded the evolution of the state marijuana program.
“I am ecstatic today,” said State Sen. Daylin Leach (D., Montgomery), who helped drive the legislation that became the state’s medical marijuana law. “Allowing the whole plant will dramatically expand the number of patients who benefit from medical cannabis and will go a long way toward guaranteeing that this huge new industry survives and prospers.”
Becky Dansky, legislative counsel of the Marijuana Policy Project, said that allowing the sale of flower represented more than a cheaper option for patients, many of whom are on disability.
“For many patients, it’s the best form to treat their symptoms,” Dansky said. “The key now is to get it on the shelves as soon as possible.”
Source: The Philadelphia Inquirer
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Shares of Clorox Co. (NYSE:CLX) have been assigned a consensus rating of “Hold” from the twelve ratings firms that are presently covering the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $128.90.
Several equities research analysts recently issued reports on CLX shares. Zacks Investment Research upgraded Clorox from a “hold” rating to a “buy” rating and set a $148.00 price target for the company in a research note on Monday, August 8th. Atlantic Securities upgraded Clorox from a “hold” rating to a “buy” rating and set a $144.00 price target for the company in a research note on Friday, September 16th. Jefferies Group reiterated a “hold” rating on shares of Clorox in a research note on Wednesday, August 3rd. Deutsche Bank AG reiterated a “hold” rating and issued a $134.00 price target (up from $130.00) on shares of Clorox in a research note on Sunday, July 24th. Finally, B. Riley reiterated a “neutral” rating and issued a $109.00 price target on shares of Clorox in a research note on Tuesday, August 9th.
Clorox (NYSE:CLX) opened at 125.18 on Monday. The company has a market cap of $16.21 billion, a PE ratio of 25.44 and a beta of 0.33. The stock has a 50 day moving average price of $127.93 and a 200 day moving average price of $130.05. Clorox has a 1-year low of $117.08 and a 1-year high of $140.47.
Clorox (NYSE:CLX) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by $0.02. The company earned $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Clorox had a net margin of 11.25% and a return on equity of 296.91%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 earnings per share. Equities analysts forecast that Clorox will post $5.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Wednesday, October 26th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Monday, October 24th. Clorox’s payout ratio is 64.91%.
In other news, EVP Laura Stein sold 38,882 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $131.69, for a total value of $5,120,370.58. Following the completion of the transaction, the executive vice president now directly owns 48,501 shares in the company, valued at approximately $6,387,096.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Nikolaos A. Vlahos sold 925 shares of the stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $133.07, for a total value of $123,089.75. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CLX. Invictus RG bought a new stake in Clorox during the first quarter worth $110,000. Checchi Capital Advisers LLC increased its stake in Clorox by 1.0% in the second quarter. Checchi Capital Advisers LLC now owns 820 shares of the company’s stock worth $113,000 after buying an additional 8 shares during the last quarter. Feltz Wealth PLAN Inc. bought a new stake in Clorox during the second quarter worth $114,000. Valley National Advisers Inc. increased its stake in Clorox by 0.6% in the second quarter. Valley National Advisers Inc. now owns 845 shares of the company’s stock worth $117,000 after buying an additional 5 shares during the last quarter. Finally, Blue Chip Partners Inc. increased its stake in Clorox by 7.1% in the second quarter. Blue Chip Partners Inc. now owns 890 shares of the company’s stock worth $123,000 after buying an additional 59 shares during the last quarter. Institutional investors own 70.27% of the company’s stock.
The Clorox Company is a manufacturer and marketer of consumer and professional products. The Company sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Company operates through four segments: Cleaning, Household, Lifestyle and International.
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Brands need to update their marketing standards, messaging, and materials in order to reflect their latest empathetic branding strategy.
With the widespread market uncertainty, the strength of a brand can potentially be what makes or breaks the business. In this economic downswing, consumers are prioritizing their purchases by saving more and buying less. The current trends in consumer spending are becoming more unpredictable than ever – with a massive fundamental change in shopping habits.
Market leaders are working in collaboration with teams to create a convincing case study in order for audiences to stick with their brand. Basically, the messaging needs to reaffirm the presence, resilience, and strength of its brand – even in a sensitive time. Marketers can help their brand to keep up and running ahead of their competition, with unique strategies. This will assure consumers about how brands are responding to the on-going crisis, and why they can keep on trusting it.
Showing Brand Strength
The challenges and opportunities to create brand loyalty are becoming more acute amid the stormy market. According to a PepsiCo study, amid any crisis period, a critical role that marketing can play is in helping to lift spirits and build empathy. A time of crisis present a significant for brands to reinforce their customer loyalty by sending the right message and at the right time – the one that is helpful, relevant, and meaningful.
Lately, with most people quarantining and working from home, nearly 73% of consumers agreed that the increase in messages from their brands was appropriate – claimed Mitto. In addition, it was observed that most consumers preferred hearing from certain brands or their preferred brands than others. Most people are already tired of pandemic-related brand messaging, noted the study.
Building Loyalty by Empathy
Brands need to present them as more than a business – with empathy, keeping the profit margin aside. Basically, it is a ‘time’ when the whole world is making adjustments. And consumers today are keener to know what a brand is doing in order to make a difference! Simply put, building customer loyalty is a primary priority for brands. In its essence, over half of the consumers are willing to spend more on a brand they are loyal to, reveal a recent Accenture research.
Brands must align with the evolving customer sentiment to earn loyalty – being true to their message is an essential step. Today, young consumers respond and are keen on companies that share their principles and show commitments towards social responsibility. According to Yotpo, many consumers are increasingly considering themselves loyal to some “particular brands”.
Clearly, businesses need to update their marketing norms and materials to reflect the latest messaging strategy. Bigger brands are focussing more on offering consumers with certainty and consistency spanning every channel – digital presence to the printed materials. As we shift to the new normal, people are looking to genuineness, relevance, and an unmatched level of high quality in brands to preserve or gain trust.


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How should exposure to risk be apportioned in the highly complex supply chains of aircraft manufacturing?
Demand for new jet airliners is booming. The order backlog for the world’s two largest makers of passenger aircraft, Airbus and Boeing, is reported to be more than 4,000 passenger jets on each order book, which is pushing the manufacturers to aim for an estimated 40 per cent increase in single and twin aisle passenger aircraft between now and 2015.
However, gearing up production places considerable pressure on the supply chain to perform and will, undoubtedly, require suppliers to invest in order to meet these aims. The aircraft manufacturers are acutely aware of the weaknesses within their supply chains. Boeing suffered a three year delay to the delivery of its 787 Dreamliner due to issues within its supply chain and only last November Airbus’ parent company, EADS, announced that problems with suppliers was to push the entry into service of the A350 back to the first half of 2014.
In order to strengthen their supply chains, Boeing and Airbus are keen to see consolidation between aerostructure suppliers – and tier-two and tier-three suppliers are obvious targets for consolidation.
But asking its supply base to forge closer financial links places greater risk on those suppliers.
Making such decisions will require considerable confidence on the part of those suppliers that the aircraft manufacturers are accurate in their estimates of future demand and will require the manufacturers to back those initiatives with greater commitment, both contractually and, perhaps, through financial incentives.
Slowing growth in global economies and a burgeoning passenger aircraft industry in China could impact confidence. Sharing the risks across the supply chain through a process of consolidation and partnerships, supported by the manufacturers, may well be the best approach to creating a more efficient and reliable supply chain for the passenger aircraft industry.


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See the latest Harpak-ULMA innovations at Pack Expo!
By Harpak-ULMA PackagingGeneral
The need for flexibility in packaging strategies is more apparent now than ever.
With changing consumer preferences, a push for sustainability, and challenges in the labour market, packaging OEMs have the opportunity to make a big difference for business operations.
Harpak-ULMA will be highlighting the many faces of packaging flexibility live at Pack Expo Las Vegas September 27th-29th.
Learn how to scale production and adapt to changing trends with solutions like:
- Augmented Reality (AR) for visually guided training, maintenance, operations, and more in partnership with PTC.
- The new Flow Vac 55 SD, ideal for flexible fresh food packaging, displayed for the first time in the United States at a live show.
- Automated loading and case-packing solutions showcasing collaborative robots and a bin-picking application in partnership with FANUC.
We’ll also be presenting on the topic of trayless ground beef packaging on the innovation stage. This trend is taking off in Europe. but is still emerging as a new opportunity in the US.
Come see us at 12 p.m. PST on Innovation Stage #2, September 28th.
Our CEO Kevin Roach will also be appearing on the Innovation Stage with Rockwell Automation to discuss smart connected machines and our four phase strategy for digital transformation.
Join that presentation at 12 p.m. PST on Innovation Stage #1, September 28th.


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Food For All: Partner Events
SUPERVALU CHAIN CONCENTRATES EFFORT ON ONE DRIVE LANHAM, Md. Shoppers Food & Pharmacy, a price-impact chain here, has reached a healthy fund-raising stride over the past seven years with Food For All. The chain is one of eight Supervalu banners participating in Food For All's holiday hunger drive, which kicked off last month. Shoppers has raised over $900,000 since it began the holiday drive in 2000.


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The game that many fans have been waiting eagerly for nearly ten years may have been lost in oblivion. This is due to the fact that Valve, the creator of the Half-Life series, did not make any confirmation that there is a sequel going on or they are awaiting completion by year-end. Because of this, fans are beginning to lose hope if there will ever be a Half-Life 3 to be released any time soon.
For those who are new to this game, Half-Life enables a first-person experience sharing an alternate history based on science fiction. Half-Life has already released Half-Life 2: Episode One and Episode Two. On the other hand, Episode Three has not been released yet since its scheduled appearance in 2007.
Preoccupied with Other Projects
Perhaps this is due to the multitude of other developments made by the team at Valve Corporation that had caused the delay of its release. However, there are no signs given by its managing director regarding the development of the third installment. Consequently, fans have continued to seek answers from the company but weren’t given any signs of hope just yet.
Expected Release Date: Undefined
Although the company has never given any straightforward answer as to whether there will still be a new installment or not, the fans has clearly seen the big picture. Likewise, Valve didn’t have any definitive statements supporting the tiniest possibility for the much anticipated sequel to be released one day.
Outlook for the Development Team
The expected sequel is taking too much time to come to fruition. Sadly, its creators are clearly ageing out of the organization. Its novelist Marc Laidlaw, for one, has announced his retirement from the industry.
Signs of Things to Come
There was a piece of concept art which was released on the Internet some years back, but it didn’t live up to expectations. So fans began to think that the third installment will never come. Despite the hype that fans hoped for Half-Life 3 to be filled with better gaming revolutions, it becomes unlikely that Valve will deliver.
There may not be a clear release date for Half-Life 3 but the hope that fans have for their favorite sci-fi video game is truly incredible. They waited for ten solid years for a third installment but to no avail, they have not been given any sign of life from developers at Valve Corporation. Perhaps this is also Valve’s marketing strategy that will lead its patrons to another sci-fi gaming experience apart from the Half-Life franchise that has only kept them hanging.


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|Gaming VC’s CEO Kenneth Alexander has stated that he expects to finalise the purchase of an Italian sportsbook license prior to the beginning of 2007/8 Italian football season, whilst also aiming to secure an online gaming license in Malta by the third quarter of 2007.|
In other news shares in the Luxembourg based gaming company soared after it announced that business in the first half of 2007 is expected to exceed market expectations.
The gaming group, which owns successful online casino The Casino Club, said revenue from its casino businesses has met expectations and that it remains optimistic that its core German business will provide a 2007 performance ahead of current market expectations.
New registrations in the six months until 30 June 2007 were 53,200 compared to 26,900 in the same period last year, an increase of 98 percent. Un-audited net revenue in the same period was €22 million, up by 4.3 percent compared to the first half of 2006.


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The huge rise in Tesla’s share price, analysts explain, was associated with increased investor confidence in the company’s ability to continue to expand its electric vehicle production at an accelerated pace. UBS experts believe that Volkswagen will keep up with the competitor, and by the middle of the decade, both companies will become the largest players in the market.
According to analysts at New Street Research, by the end of next year Tesla will be able to increase production of electric vehicles to two million a year and in 2023 will overcome this milestone. According to UBS experts, Volkswagen has a quite feasible task to release at least 1.2 million electric vehicles next year, which will bring it closer to Tesla in terms of the scale of its core business.
Already at the end of last year, Volkswagen managed to occupy up to 25% of the European market, approaching Tesla. According to UBS experts, Volkswagen platforms for creating electric vehicles will be distinguished by good scalability. If in 2020 a manufacturer could earn on average 1% of its cost on each electric vehicle, then by 2025 the profit rate will grow to 7%. By the middle of the decade, as already noted, the cost of producing a budget electric car will equal the cost of producing a car with an internal combustion engine.
Tesla will be able to maintain leadership in certain areas, as the authors of the policy note explain. Thus, the American company will outperform the German competitor in software, including active driver assistance functions. Tesla’s developments in the field of creating powertrains, according to UBS experts, will also provide the company with technological leadership compared to Volkswagen. By 2040, UBS predicts that electric vehicles will finally penetrate all segments of the automotive market. The strategy chosen by Volkswagen for the transition to electric traction in this case should ensure the success of the business transformation.
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