Resideo (REZI) has announced that they intend to acquire First Alert, Inc., a leading provider of home safety products from Newell Brands for $593 million in cash.
The deal is a natural extension to Resideo’s home comfort and security business and extends the number of residential sensors they have in the home. For those unfamiliar with the security industry, for many decades Resideo and its affiliates have previously sold First Alert equipment across it’s residential new construction and other professional segments.
“We’re excited about First Alert becoming part of our overall product portfolio and the growth opportunities we’ll have in the future. Their strategy and vision as a company align with our vision to help make homes safer and more secure,” said Scott Harkins, Vice President, Sales and Channel Americas.
As far as timelines for this transaction to occur, they have intentions of integrating the First Alert brand into the Resideo umbrella later in the first quarter of 2022. However, as with all acquisition’s including this one, it is still subject to regulatory approval.