ADT Takes Minority Ownership in Life360 to Expand ‘Out-of-Home’ Services
Companies plan to bring to market new mobile applications to enhance security offerings to families.
BOCA RATON, Fla. – ADT is partnering with Life360, a provider of location-based services and family networking technology, to create a new lead generation source for it dealers. The agreement will allow ADT authorized dealer to offer co-branded mobile security applications to provide greater safety and security services to families.
As part of the agreement, ADT is taking a minority ownership stake in the company through a $25 million investment, leading a $50 million Series C financing for Life360. The investment forges a mutually beneficial bond for the two companies to work together to advance personal security solutions available to the more than 33 million families who use Life360, according to the company.
“We’ve expanded beyond helping protect and connect homes and businesses,” says Arthur Orduña, senior vice president and chief innovation officer for ADT. “Today, ADT provides security and monitoring solutions for families wherever they are. This partnership with Life360 fits within our innovation strategy to reinvent the idea of ‘security’ for our increasingly mobile lifestyles.”
One planned development from the partnership is a new mobile application that will integrate features from ADT Chaperone, an existing subscription-based personal security offering. The upcoming mobile application from ADT and Life360 will provide direct access to ADT’s monitoring centers that can connect users to police, fire and emergency medical responders.
“Soon every family will be able to use the app to meet their unique needs, whether it’s providing a chaperone for a child walking home from school and verifying they reached their destination, or knowing to arm the home’s security system when the house is vacant,” adds Orduña.
The new co-developed mobile application will be available in late 2014. The app will be free, and upgraded security features from ADT will be available for monthly subscription fees.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Related Content
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Commercial Integrator + Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add to your bottom line.
A FREE subscription to the top resource for security and integration industry will prove to be invaluable.
