Resideo, which consists of Honeywell's Homes product portfolio and ADI global distribution business, 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.
"Honeywell is really a big business-to-business company, B2B company, and they are focused on big contracts with Boeing (BA) - Get Report and a lot of their other customers," Nefkens said. "What we do is really focused more on the consumer through what we call the professional channels."
Resideo'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.
"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."