Question: I heard that ADI is being sold. Anyone else hear this or is it just one
more rumor floating around. What is adt security services inc being sold?
Answer:BOCA RATON, Fla., Aug. 28 /PRNewswire/ -- ADT Security Services, Inc.,
a unit of Tyco Fire and Security Services (NYSE: TYC; LSE: TYI; BSX:
TYC), today announced a new Financial Services and Banking Division
created specifically to meet the increased demands of the electronic
and physical security marketplace. The new division will be lead by
former Mosler Chief Operating Officer, David Artone. In addition,
nearly one thousand former Mosler employees will be filling various
positions within the division.
According to ADT's President, Michael Snyder, ``The new Financial
Services and Banking group will combine both the strengths of ADT and
those formerly held by Mosler -- ultimately creating a group that can
provide superior electronic and physical security to financial
institutions. ADT has experienced significant growth in the financial
services arena in recent years and this new division should provide
additional market expansion. We also expect this division to have an
immediate and positive impact on the marketplace.''
ADT's Financial Services and Banking Division will be dedicated to
delivering the unique services and solutions banks and financial
institutions require. ``The addition of former Mosler employees, who
have the skills to service and install specialty product lines, will
assist ADT in providing full-service offerings to all banking
customers'', Snyder added. Some products ADT will now provide include
vaults, safes, pneumatic drive-up tubes, deal- drawers, night
depositories and safe deposit boxes.
