by Angela Nazworth | May 7, 2012 1:19 pm
Telecommunications 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.”
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.
Source URL: http://investorplace.com/2012/05/att-dials-into-home-security-automation/
Short URL: http://invstplc.com/1fBTQgS
Copyright ©2014 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.