Resideo to spin off ADI Global Distribution.

Resideo, a global manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions, agreed to spin off ADI Global Distribution, a distributor of security, audiovisual, and smart living solutions. Financial terms were not disclosed. "At Resideo, we have instilled strong operational discipline across the enterprise, resulting in independence for each of ADI and P&S. Through continued growth and investment, ADI and P&S are leading players in their distinct areas – ADI as a global wholesale distributor of low-voltage products including security and audio-visual solutions, and P&S as a building products manufacturer focused on residential controls and sensing solutions. We believe a separation is the next, most natural step, allowing ADI and P&S the opportunity to unlock their full potential and better serve all our stakeholders," Jay Geldmacher, Resideo President and CEO.