A Middletown-based home security company has been sold to ADT for $25 million.
LifeShield, which is based on Cabot Boulevard, was purchased by Florida-based ADT last week as the monitored home and business security company looks to grow its holdings by acquiring the local firm, which was a pioneer in wireless home security systems.
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“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. 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,” ADT President and CEO Jim DeVries said in a statement.
DeVries further stated that ADT, the nation’s largest residential security provider, looked for firms that “share our passion for security, customer service, and innovation.”
“This combination unites the passion and commitment of two organizations 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 capitalize 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.”
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LifeShield offers customers security and fire and carbon monoxide monitoring along with live video and home automation.
LifeShield was founded in 2004 as InGrid and renamed in 2010. The company was purchased by DirecTV in 2013 and sold to Hawk Capital Partners in 2015 after AT&T merged with the DirecTV. AT&T already had its own home security and automation system.
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Financial website Seeking Alpha reported LifeShield has accepted $43.1 million in investment over the years.
