AT&T Dials Into Home Security, Automation

by Angela Nazworth | May 7, 2012 1:19 pm

AT&T Dials Into Home Security, Automation

A T and T ATT 8 300x199 AT&T Dials Into Home Security, Automation[1]Telecommunications giant AT&T (NYSE:T[2]) 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[3].

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.”

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[4] reports.

Rival telecom Verizon Communications (NYSE:VZ[5]), and cable-TV company Comcast (NASDAQ:CMCSA[6]) have also entered into the home automation and security services industry.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/05/A-T-and-T-ATT-8.jpg
  2. T: http://studio-5.financialcontent.com/investplace/quote?Symbol=T
  3. Reuters: http://www.reuters.com/article/2012/05/07/att-security-idUSL1E8G3T2620120507
  4. The Associated Press: http://hosted.ap.org/dynamic/stories/U/US_TEC_ATT_SMART_HOME?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-05-07-00-11-59
  5. VZ: http://studio-5.financialcontent.com/investplace/quote?Symbol=VZ
  6. CMCSA: http://studio-5.financialcontent.com/investplace/quote?Symbol=CMCSA

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