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ADT Corp. begins trading on the New York Stock Exchange

By Palm Beach Business.com

BOCA RATON — Electronic security giant ADT Corp. began trading once again as an independent company Monday, after completing a spinoff from Tyco International. The stock was up 35 cents to $36 in late afternoon trading on the New York Stock Exchange. The company trades under the symbol, ADT.

 “The launch of ADT as an independent company is a great moment for our employees, and it marks an exciting milestone in our proud history,” ADT CEO Naren Gursahaney said in a statement..

Tyco announced its intent to spin off its security subsidiaries, including ADT, a year ago in order to focus on other businesses. The company, according to Securities and Exchange Commission documents, earned $376 million on revenue of $3.11 billion for the year ended Sept. 30, 2011.

ADT has about 16,000 employees in 200 locations throughout the country. It operates six alarm monitoring centers. According to ADT, it maintains the largest sales, installation and service field force of all security firms and serves a quarter of the North American residential and small business market.

Besides CEO Gursahaney, ADT’s management team includes eight holdovers, including CFO Kathryn Mikells; Chief Legal Officer David Bleisch; Chief Corporate Development Officer Don Boerema; Senior Vice President Mark Edoff; human resources officer Anita Graham; Senior Vice President for Sales Stephen Gribbon;  Senior Vice President for Operations Shawn Lucht; and Chief Marketing Officer Tony Wells.

ADT was independently owned and based in Boca Raton until the mid-1990s when Western Resources made a hostile bid to buy the company in 1996. The bid pushed ADT into the arms of Tyco International, then under former Boca Raton resident Dennis Kozlowski, which bought the company for $5.6 billion the following year.

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