Deals
Telco Telus to Buy ADT’s Canada Unit for $527 Million
- Deal with U.S. firm to add 500,000 customers, 1,000 employees
- Sale will allow ADT to focus on competitive U.S. market
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Telus Corp., one of Canada’s largest telcos, agreed to buy ADT Inc.’s operations in the country in a effort to expand its home and business security unit.
Telus will purchase ADT Security Services Canada Inc. for about C$700 million ($527 million), according to a company statement. The Canadian unit of Boca Raton, Florida-based ADT will add about 500,000 customers and about 1,000 employees to Telus. The transaction is expected to close in the fourth quarter.