Top 10 Security Stories From September 2022: Alleged Panel Defects, ASSA ABLOY Antitrust Lawsuit
September’s most popular security news, features and events includes GSX 2022 product news, State Farm’s investment in ADT and more.
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September picked up where a busy August in the security industry left off. There was no shortage of major stories.
The biggest story — in terms of readership and industry impact — was the allegation that several manufacturers are knowingly selling and marketing burglar and fire alarm control panels with defects.
At the beginning of the month, GE and Carrier were hit with a $5 million lawsuit that alleged its fire control units are non-conforming to the minimum standards required by both UL and NFPA 72. Several weeks later, Resideo/Honeywell was hit with a lawsuit for the same “defect.”
In other legal news that could potentially have industry-shifting ramifications, the U.S. Department of Justice filed a civil antitrust lawsuit to block ASSA ABLOY’s proposed $4.3 billion acquisition of the Hardware and Home Improvement division of Spectrum Brands.
The DOJ says that the proposed transaction would transform the mechanical door hardware and smart lock markets, giving ASSA ABLOY a near-monopoly in premium mechanical door hardware and more than a 50% share in smart locks, leaving only one significant competitor.
It wouldn’t be a top story compilation without an appearance by ADT. This month, Big Blue makes the list thanks to a $1.2 billion investment by State Farm. The insurance company will own approximately 15% of ADT after the equity investment and the tender offer close.
Also popular in September was GSX 2022 coverage, a profile on Alarm.com and Verkada’s latest round of funding. You can view all these stories and more in the slideshow.
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