RESIDEO TECHNOLOGIES, INC.

Spin-off

Honeywell spun off the Homes and Distribution business in October 2018 as part of a corporate restructuring program. The new company was named Resideo. Shares in the company began trading on the New York Stock Exchange under the ticker symbol REZI. Roger Fradin, a former vice chairman of Honeywell, was named board chair. Mike Nefkens was named president and CEO. The company established its headquarters in Austin, Texas, following the spin-off. Resideo's shares initially traded at $28 with market capitalization of $3.2 billion. In its first full quarter as a standalone company, the company reported sales of $1.2 billion and earnings of $2.53 per share. In the second quarter of 2019, the company reported sales of $1.2 billion and earnings of $0.19 per share.

In 2021, Resideo announced that it would move its corporate headquarters from Austin, Texas, to Scottsdale, Arizona. The move was complete by early 2022. [ citation needed ]

Mergers and acquisitions

On March 28, 2019, Resideo announced the acquisition of Buoy Labs, a company that offers water usage and leak prevention products. All Buoy products have been discontinued and support was stopped 31st March 2021.

On May 21, 2019, Resideo announced it had acquired energy efficiency technology from Whisker Labs. The technology creates an thermodynamic model of a home to predict energy use and enable efficiency.

On June 27, 2019, Resideo announced the acquisition of LifeWhere, a company that uses predictive analytics to forecast home appliance failures.

On February 7, 2022, Resideo announced it would acquire First Alert from Newell Brands.

On April 15, 2024, Resideo announced it would acquire Snap One, a major home automation provider, for $10.75 per share in cash, for a transaction value of approximately $1.4 billion. This purchase includes the Control4 brand, which has provided home automation solutions since 2004. Other Snap One brands such as Triad, Luma, and Araknis will all be sold through ADI Global Distribution.