Telus signs a deal to buy ADT Security Services Canada Inc. for roughly $700 million. ADT is among the leading providers of security and automation solutions that serves residential and business customers in Canada. ADT Canada has approximately 500,000 customers and 1,000 team members across Canada.
Telus says the acquisition is a strategic fit with its national wireless service and PureFibre residential networks. Launching the Telus SmartHome Security and Secure Business last year. Estimating more than 12,000 new customers in the security business in our third quarter, bringing the security subscriber base to 100,000 prior to the deal.
The deal with ADT Canada is predicted to close in the fourth quarter, pending on regulatory approval and closing conditions.
Big days ahead for Telus!