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HomeArticlesADT Buys Devcon Security For US148.5M

ADT Buys Devcon Security For US148.5M

The deal, the first since ADT spun off from Tyco Int’l last year, will bring in 117,000 accounts and $3.6 million in recurring monthly revenue (RMR), South Florida Sun-Sentinel reports. The firm expects the transaction to close in early August.
“In addition to the solid characteristics of the Devcon customer base, we are excited to add Devcon Security’s seasoned sales force and distribution capabilities as well as their highly competent management and operating teams,” ADT CEO Naren Gursahaney says. 
“We operate in a highly fragmented industry and over time expect to see additional M&A opportunities, like Devcon, that could represent value-added enhancements to our organic growth.”

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SEN News
SEN Newshttps://sen.news
Security & Electronics Networks - Leading the Security Industry with News and Latest Events. Providing information and pre-release updates on the latest tech and bringing it all to you daily. SEN News has been in print for over 20 years and has grown strong as a worldwide resource in digital media.

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