TELUS buys ADT Canada security company for $700 million

Oct 1 2019, 1:01 pm

The Canadian division of ADT Security Services is now a property of TELUS, after the Vancouver-based telecommunications company acquired the firm for about $700 million.

TELUS announced to deal today, which will allow it to leverage its expanding wireless and PureFibre networks, effectively integrating the company’s home, business, security, IOT, cybersecurity, smart buildings, smart cities, and health services.

In a release, the acquisition will allow TELUS to expand its new home security business, the TELUS SmartHome Security app, which allows customers to remotely check cameras, lock and unlock doors, manage indoor and outdoor lighting, and the thermostat from their smartphone.

TELUS forecasts it will add over 12,000 new customers to its security business in the third quarter of 2019, increasing its total number of SmartHome Security customers to about 100,000 before the acquisition.

ADT Canada is one of Canada’s largest providers of security alarm services for residences and businesses, with approximately 500,000 customers and about 1,000 employees nationwide.

The transaction is expected to be finalized in the fourth quarter of this year, subject to regulatory approval.