Telus Corp., one of Canada’s largest telecommunications companies, is expanding its security business and has agreed to acquire ADT Security Services Canada, Inc. (ADT Canada) for approximately CAD 700 million. ADT Canada provides security and automation services for residential and business customers. The company has about 500,000 customers and 1,000 team members across the country. Jim DeVries, President and CEO at ADT, said, “The sale of our more capital intensive Canadian operations enables us to sharpen our focus on the exciting growth and higher margin opportunities in the U.S., where we can more efficiently invest our time and resources. Importantly, these emerging opportunities are ideal for leveraging the trusted ADT brand as we continue generating strong free cash flow to drive shareholder value over the long term.” According to the agreement, all of the ADT Canada team members and customers will join Telus. The company said it will “deepen…
