By Jamie Haenggi, ADT Chief Customer Officer
More consumers than ever share a concern for rising energy prices, the resiliency of our power grid and green living to care for our planet. Yet only 3 percent of U.S. homes have solar. ADT wants to change that, and today marks a major step in providing customers with protected, connected, and now powered homes.
ADT, the most trusted brand in smart home and small business security, announced an agreement to acquire Sunpro Solar, ranked #2 among the top residential solar rooftop installers in the U.S. by Solar Power World in 2021.
Energy plays a central role in our lives, especially at home. From our 6 million customers, we’ve heard the desire to have a solar offering from a company with longevity and high trust, two hallmarks of ADT. Combining Sunpro’s customer-obsessed sales and installations teams with ADT’s brand and nationwide infrastructure, we believe we can enable more Americans to enjoy the cost savings, peace of mind and green living benefits solar has to offer.
A Win-Win for ADT Customers:
- This combination creates a single brand option for customers to enjoy a full suite of products and services to design their protected, connected and powered home.
- As a part of the ADT family, Sunpro, which will be rebranded ADT SolarTM, will accelerate our ability to bring residential and commercial rooftop solar to more customers, helping them save money and also become more energy independent.
- ADT Solar will offer consumers even more peace of mind by giving them the opportunity to power their homes with sustainable and affordable solar energy at a time when climate concerns and weather patterns weigh on people’s minds.
We look forward to offering our customers solutions for their safe, smart, and sustainable home. Visit www.adt.com/solar to learn more.
ADT has made statements in this press release that are forward-looking and therefore subject to risks and uncertainties. All statements, other than statements of historical fact, included in this document are, or could be, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are made in reliance on the safe harbor protections provided thereunder. These forward-looking statements relate to our proposed acquisition of Sunpro Solar, its anticipated impact on our business and financial condition, our anticipated timing for closing the acquisition, our anticipated plans and strategies, our anticipated cross-selling opportunities, anticipated growth in the demand for residential solar power, our ability to expand Sunpro’s existing distribution network, and our ability to integrate the Sunpro business into our own. Any forward-looking statement made in this press release speaks only as of the date on which it is made. ADT undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. Forward-looking statements can be identified by various words such as “expects,” “intends,” “will,” “anticipates,” “believes,” “confident,” “continue,” “propose,” “seeks,” “could,” “may,” “should,” “estimates,” “forecasts,” “might,” “goals,” “objectives,” “targets,” “planned,” “projects,” and similar expressions. These forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. ADT cautions that these statements are subject to risks and uncertainties, many of which are outside of ADT’s control, and could cause future events or results to be materially different from those stated or implied in this document, including among others, risks and uncertainties related to the parties’ ability to successfully close the Sunpro Solar acquisition, which is subject to various closing conditions, our ability to integrate the acquired business successfully and to achieve synergies and other benefits, the possibility that the acquisition may cause disruption to the Sunpro Solar business and to its customers, any distraction of our management team from our business, the possibility that the acquisition may adversely impact our financial results, risks associated with the demand for residential solar power, including changes in governmental regulations and incentives, other risks associated with our ability to execute on the transaction, and risk factors that are described in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings with the Securities and Exchange Commission, including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein.