Telus to Acquire ADT Canada for $700 Million
Telus has announced this morning it has agreed to acquire ADT Canada for roughly $700 million, to expand its security services.
Telus SmartHome Security and Secure Business launched last year and the company says they will hit about 100,000 total security subscribers, prior to the acquisition of ADT.
“Importantly, the ADT Canada acquisition not only expands TELUS’ security business, but also supports the continued advancement of TELUS’ health strategy,” explained a press release.
“This includes enabling Canadians with remote patient care with home health monitoring; and helping Canadians, notably elderly citizens, enjoy their independence with secure, connected technology in the comfort of their own home,” said Telus.
The acquisition will see ADT Canada employees and customers join Telus. ADT Canada’s website says it is the “#1 home security company in Canada”, with “125 years of security expertise,” offering turn-key consumer and business solutions.
Telus says the acquisition is set to close in the fourth quarter, pending regulatory approvals.