ADT Adds a Cable Guy
3:15 PM -- ADT Corp. , the newly spun-off residential security unit of Tyco International Ltd.(NYSE: TYC; London: TYI), appears to be getting more and more cable-friendly by the week.
The latest: Arthur Orduña, a former Bright House Networks exec who initially served as CTO and later as chief product officer at the cable-backed Canoe Ventures LLC advanced advertising J.V., has joined ADT as chief innovation officer, reporting to CEO Naren Gursahaney.
Orduña, who most recently consulted with eBay Inc. (Nasdaq: EBAY)'s PayPal unit, is tasked with leading ADT's "long-term vision" and putting together a strategic roadmap to help "position the company as a partner of choice."
ADT's long-term prospects have been a subject of much speculation after it became a stand-alone company with about 6.5 million customers in North America.
While recent comments by ADT's new CEO indicate that the company intends to go it alone, the rumor circulating for months is that the spinoff puts ADT in prime position to be acquired by Comcast Corp. (Nasdaq: CMCSA, CMCSK) or Verizon Communications Inc. (NYSE: VZ), two service providers that are relatively new to the home security/automation market and compete directly with ADT. The theory is that one of them could make a play for ADT and become the sector's market leader virtually overnight.
If ADT's long-term vision includes how to fit into service provider architectures, including cable's, Orduña's certainly the kind of guy to help make that happen -- whether that's to help out with potential partnerships or to help ADT get ready for an outright acquisition.
As we've noted, ADT already has some very cable-friendly linkages. Edward Breen, the former chairman and CEO of Tyco who once ran the show at Motorola and General Instrument Corp., is still on the Tyco board. Frank Drendel, the founder and chairman of another key cable supplier,CommScope Inc. , joined the Tyco board in late September.
The above information is edited by 10GTEK.
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