|[July 08, 2014]
ADT Closes Acquisition of Reliance Protectron, Inc.
BOCA RATON, Fla. --(Business Wire)--
The ADT Corporation (NYSE: ADT) today announced that it has closed the
previously announced acquisition of Reliance Protectron, Inc.
(Protectron), from Reliance Comfort Limited Partnership, a portfolio
company of investment funds managed by Alinda Capital Partners. ADT
acquired Protectron for total cash consideration of CAD $555 million.
"We're delighted to have completed the acquisition of Protectron, which
will accelerate our growth plan for the important Canadian market and
create value for ADT shareholders," said Naren Gursahaney, ADT's chief
executive officer. "We look forward to partnering with Protectron's
talented team to provide excellent customer service and more choice for
Canadians across a variety of traditional security and automation
Daniel Demers, Protectron's president and chief executive officer,
added, "This combination creates a stronger company that is better able
to meet the security needs of Canadian homeowners and business owners.
Together, we help protect more than 800,000 Canadians with the best
people, the best products and solutions, and the best customer service
in the security industry."
The acquisition significantly stregthens ADT's business in Canada.
Protectron is a leading provider of monitored security services in
Canada and enjoys a highly satisfied customer base with greater levels
of customer retention than other major players in the North American
electronic security industry. The Company will continue to use the
Protectron brand under ADT ownership.
The ADT Corporation (NYSE: ADT) is a leading provider of electronic
security, interactive home and business automation and monitoring
services for residences and small businesses in North America. ADT's
broad and pioneering set of products and services, including ADT Pulse (News - Alert)®
interactive home and business solutions, and health services, meet a
range of customer needs for today's active and increasingly mobile
lifestyles. Headquartered in Boca Raton, Florida, ADT helps provide
peace of mind to more than six million customers, and it employs more
than 16,000 people at 200 locations. More information is available at www.adt.com.
Incorporated in 1988 and headquartered in Montreal, Quebec, Protectron
is one of Canada's largest security monitoring and installation
companies. It employs over 900 qualified professionals who specialize in
the selling, installing, servicing and monitoring of electronic security
systems for more than 400,000 residential, commercial, industrial and
wholesale subscribers nationwide. Subscribers are offered a full suite
of security and related monitoring products and services, including
intrusion, smoke detection, personal and medical emergency, and
environmental monitoring as well as other specialized services.
Best-in-class interactive and home automation services adapt to today's
connected lifestyle. For more information, visit www.protectron.com.
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