SmartRent Selects ADI Global Distribution as Preferred Distribution Partner
08 Agosto 2023 - 9:00AM
Business Wire
Global distributor's geographic footprint and
strong distribution channels will help improve smart technology
leader’s cash position and lower inventory levels
SmartRent, Inc. (NYSE: SMRT) (“SmartRent” or the “Company”), a
leading provider of smart home and property operations solutions
for the rental housing industry, has entered into an agreement with
ADI Global Distribution, a Resideo Technologies, Inc. company, to
serve as its preferred distribution partner.
A leading distributor of security, AV and low-voltage products,
ADI's expansive network allows for efficient and timely order
fulfillment for SmartRent’s 500+ rental housing customers,
fortifying the Company’s inventory and distribution activities, and
enabling it to streamline inventory management and enhance product
availability.
“Demand for our solutions remains robust, and it’s imperative
that we are able to meet the needs of our customers while
continuing to prioritize the innovation and product enhancements
that keep us at the forefront of the industry,” said SmartRent CEO
Lucas Haldeman. “ADI is one of the most trusted names in the space,
and we are proud to partner with them to meet our fulfillment needs
and exceed customer expectations. This expanded relationship with
ADI strengthens our overall partnership with Resideo.”
ADI was selected for its best-in-class operations, extensive
product portfolio and local inventory availability. ADI has been
supplying SmartRent with more than 100,000 Resideo thermostats per
year, and this agreement will expand across the full product
offering. In addition to prompt order fulfillment, the multiyear
agreement provides SmartRent with needed hardware on demand while
reducing its cash investment in inventory. Over time, SmartRent
anticipates the decrease in on hand inventory will increase its
cash balances.
"ADI is committed to serving as the indispensable partner of
choice for our customers," said Rob Aarnes, President of ADI Global
Distribution. "We're excited to expand upon our relationship with
SmartRent to help them navigate their product needs and drive
toward long-term business goals, while also resulting in
incremental revenue growth for ADI."
To learn more about SmartRent, visit smartrent.com.
About SmartRent
Founded in 2017, SmartRent, Inc. (NYSE: SMRT) is a leading
provider of smart home and smart property solutions for the rental
housing industry. The company’s unmatched platform, comprised of
smart hardware and cloud-based SaaS solutions, gives operators
seamless visibility and control over real estate assets, empowering
them to simplify operations, automate workflows, benefit from
additional revenue opportunities and deliver exceptional site team
and resident experiences. SmartRent serves 15 of the top 20
multifamily owners and operators, and its solutions enable millions
of users to live smarter every day. For more information, please
visit www.smartrent.com.
About ADI
ADI Global Distribution, a Resideo company, is a leading
distributor of security, AV and low-voltage products serving more
than 100,000 customers across North America, Europe, Middle East,
and Africa. Leading pros rely on ADI for our wide selection of top
brands, immediate product availability, knowledgeable sales staff
and our product, design and support. Customers can shop ADI through
its Digital Branch, mobile app and in more than 200 stocking
locations. ADI solutions include Intrusion & Smart Home, Fire,
Video Surveillance, Access Control & Communications,
Residential AV, Pro AV, Networking, Data Communications, Power,
Central Vacuum, Structured Wiring, Wire & Cable, and Tools
& Hardware. For more information about ADI, visit
adiglobal.com.
Forward-Looking Statements
This press release contains forward-looking statements relating
to the growth, interest, cost savings, flexibility and
technological advantages of the agreement with ADI Global
Distribution, and may contain words such as "estimate," "expect,"
"anticipate," "intend," "may," "will" or similar expressions.
Forward-looking statements are based on current expectations and
assumptions that are subject to risks and uncertainties that may
cause actual results to differ materially. This press release
should be read in conjunction with the information included in the
Company's other press releases, reports and other filings with the
Securities and Exchange Commission (SEC) including, in particular,
risks and uncertainties described under the heading “Risk Factors”
in SmartRent’s Annual Report on Form 10-K and subsequent period
reports filed with the SEC and available at www.smartrent.com. Many
of these uncertainties and risks are difficult to predict and
beyond management’s control. Forward-looking statements are not
guarantees of future performance, results or events. SmartRent
assumes no obligation to update or supplement forward-looking
statements that become untrue because of subsequent events.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230808044150/en/
Investor Contact Brian Ruttenbur - Senior Vice President,
Investor Relations Mobile: 480-371-2828 investors@smartrent.com
Media Contact Amanda Chavez - Senior Director, Corporate
Communications media@smartrent.com
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