Today, TELUS announced that it has agreed to acquire ADT Security
Services Canada, Inc. (ADT Canada) for approximately CAD $700
million. ADT Canada is one of Canada’s leading providers of
security and automation solutions serving residential and business
customers, with approximately 500,000 customers and approximately
1,000 team members across the country.
This acquisition furthers TELUS’ commitment to leverage the
power of technology to bring state-of-the-art convenience, control
and safety into the lives, homes and businesses of more Canadians.
TELUS is also proud to deepen ADT Canada’s roots by ensuring its
services continue to be provided and supported by a Canadian
company that also prioritizes privacy and security. Following
closing of the transaction, TELUS looks forward to welcoming ADT
Canada team members and customers into the TELUS family, and
bringing customers best-in-class customer service, and innovative
new features in the immediate future with valuable offers and
upgrades.
This acquisition builds on TELUS’ strategy and commitment to
leverage its world-leading wireless and PureFibre networks and
complements our industry-leading customer service, to continue to
enhance connected home, business, security, IOT, cybersecurity,
smart buildings, smart cities and health services for its customers
in Canada. The TELUS PureFibre network serves as the backbone of
TELUS’ wireless network, enabling even more wireless capacity and
faster speeds. TELUS has been repeatedly recognized globally as the
fastest network with the best coverage and customer experience in
Canada with independent awards and rankings from J.D. Power, H2
OpenSignal, PC Mag, and Ookla.
Recognizing that home and business security is of significant
importance to its customers, last year the company launched TELUS
SmartHome Security and Secure Business. These solutions provide
customers with peace of mind and convenience through advanced home
and business automation, state-of-the-art security features, 24/7
real-time monitoring for fires, floods, carbon monoxide leaks and
break-ins, and many connected features that allow customers to
easily manage their home or business directly from the TELUS
SmartHome Security app on TELUS’ award-winning wireless network.
This app enables customers to remotely check cameras, lock and
unlock doors, manage indoor and outdoor lighting, and even the
thermostat all from their smartphone. Importantly, the ADT Canada
acquisition not only expands TELUS’ security business, but also
supports the continued advancement of TELUS’ health strategy. This
includes enabling Canadians with remote patient care with home
health monitoring; and helping Canadians, notably elderly citizens,
enjoy their independence with secure, connected technology in the
comfort of their own home.
In the third quarter of 2019, TELUS expects to have added more
than 12,000 new customer additions to our security business,
bringing our total security subscriber base to approximately
100,000 prior to the acquisition of ADT Canada. These subscriber
statistics are preliminary and subject to confirmation with the
release of our third quarter results on November 7, 2019.
The transaction is expected to close in the fourth quarter of
2019, pending regulatory approval and satisfaction of other
customary closing conditions set forth in the share purchase
agreement, a copy of which will be made available by ADT on EDGAR,
the Electronic Data Gathering, Analysis, and Retrieval system of
the U.S. Securities and Exchange Commission, at www.sec.gov.
For more information about TELUS’ security and automation
solutions, please visit telus.com.
About TELUS
TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading
communications and information technology company with $14.6
billion in annual revenue and 14.2 million customer connections
spanning wireless, data, IP, voice, television, entertainment,
video and security. We leverage our global-leading technology to
enable remarkable human outcomes. Our longstanding commitment to
putting our customers first fuels every aspect of our business,
making us a distinct leader in customer service excellence and
loyalty. TELUS Health is Canada's largest healthcare IT provider,
and TELUS International delivers the most innovative business
process solutions to some of the world’s most established
brands.
Driven by our passionate social purpose to connect all Canadians
for good, our deeply meaningful and enduring philosophy to give
where we live has inspired our team members and retirees to
contribute more than $700 million and 1.3 million days of service
since 2000. This unprecedented generosity and unparalleled
volunteerism have made TELUS the most giving company in the
world.
For more information about TELUS, please visit telus.com, follow
us @TELUSNews on Twitter and @Darren_Entwistle on Instagram.
Forward-Looking Statements This news release
contains statements about expected future events, including
statements relating to the planned acquisition of ADT Canada by
TELUS, the expected timing of the transaction, including the
receipt of regulatory approvals, and the expected benefits of the
transaction and plans for its integration. By their nature,
forward-looking statements require TELUS to make assumptions and
predictions and are subject to inherent risks and uncertainties.
There can be no assurance that the acquisition will be completed as
expected or upon the terms and conditions described in this news
release, or that the expected benefits of the transaction will be
realized. There is significant risk that the forward-looking
statements will not prove to be accurate. The forward-looking
statements contained in this news release describe our expectations
at the date of this news release and, accordingly, are subject to
change after such date. Readers are cautioned not to place undue
reliance on forward-looking statements as a number of factors could
cause actual future events to differ materially from those
expressed in the forward-looking statements. Accordingly, this news
release is subject to the disclaimer and qualified by the
assumptions, qualifications and risk factors referred to in TELUS'
2019 second quarter Management’s discussion and analysis and 2018
annual report, and in other TELUS public disclosure documents and
filings with securities commissions in Canada (on SEDAR at
sedar.com) and in the United States (on EDGAR at sec.gov). Except
as required by law, TELUS disclaims any intention or obligation to
update or revise forward-looking statements.
For media inquiries, please contact:
Liz Sauvé TELUS Public Relations liz.sauve@telus.com
For investor relations inquiries, please
contact:
Robert Mitchell TELUS Investor Relations
robert.mitchell2@telus.com
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