Telus has acquired ADT Security Services Canada for $700 million CAD, a press release said.
The security service solution serves about 500,000 customers and has about 1,000 employees across the country.
The release indicated that once the transaction is closed, it will be “welcoming the ADT Canada team members and customers into the Telus family.”
Telus said that the acquisition is its strategy to leverage its wireless and PureFirbre networks and will help enhance “connected [homes], [businesses], security, IoT, cybersecurity, smart buildings, smart cities and health services for its customers in Canada.”
The Vancouver-based carrier said that it wants to build on its home and business security, which is “of significant importance to its customers.”
Telus expects the transaction of ADT to close in Q4 2019, “pending regulatory approval and satisfaction of other customary closing conditions set forth in the share purchase agreement.”