Resideo Technologies Inc. (REZI) , the Honeywell International Inc. (HON - Get Report) spin-off comprised of Honeywell's Homes product portfolio and ADI global distribution business, is primed to grow along with the rise of the smart-home market.
Resideo was spun from Honeywell because it's a different business and management knew the homes business could grow faster on its own, Chief Executive Officer Mike Nefkens told TheStreet.
The company's product pipeline focuses on the "connected home," which means various devices can be controlled through the internet. The company currently has about 3,000 products for the home, including leak detection as well as boiler and hot water control units.
"We're really about the core of the home, and when we think of connected, we think of smart as well," Nefkens said.
"With the advent of mesh WiFi, we're able to have connectivity behind the walls in your home," Nekens said. "And, we're able to give the homeowner a sense of how these appliances and how these products are working... now, we're actually going to be able to tell you that there's a leak in your attic."