AT&T Dials Into Home Security, Automation

The move could add $1 billion to telecom giant's revenues

   

AT&T Dials Into Home Security, Automation

A T and T ATT 8 300x199 AT&T Dials Into Home Security, AutomationTelecommunications giant AT&T (NYSE:T) is planning to launch “Digital Life,” a  wireless home automation and security system. The service, which AT&T plans to start selling in its Atlanta and Dallas stores this summer, could add about $1 billion to the company’s annual revenue according to Reuters.

Glenn Lurie, the AT&T executive spearheading the project, told Reuters that the new service “involves sensors and cameras linked to a central home system that connects wirelessly to AT&T monitoring centers.”

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Lurie predicts that the investment will make a significant impact on revenue growth. “When you’re a company like AT&T … you look at opportunities that are billion-dollar opportunities,” Lurie said. “Obviously to grow our business at any level, when you’re a $130 billion plus company, you have to look for significant opportunities. We view this as a significant opportunity.”

The technology that will enable homeowners to control their home security system from their cell phones and comes from Xanboo, a company AT&T acquired about two years ago, The Associated Press reports.

Rival telecom Verizon Communications (NYSE:VZ), and cable-TV company Comcast (NASDAQ:CMCSA) have also entered into the home automation and security services industry.


Article printed from InvestorPlace Media, http://investorplace.com/2012/05/att-dials-into-home-security-automation/.

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