Briefing

Telus acquires ADT Security Services Canada for about $700 million

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Acquiring the Canadian arm of the U.S.-based home-security company gives Telus its roughly 500,000 customers, five times the number currently signed up for the telecom’s SmartHome Security and Secure Business services. The transaction is expected to close by the end of this year, following regulatory approval and other closing conditions. (The Logic)

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Talking point: Telus launched its security service last year, with features including fire, flood and break-in monitoring, remote locking and thermostat control and home health monitoring. It brought Telus into competition with other Canadian telecoms that have invested in the space. Bell acquired Toronto-based AlarmForce in January 2018 to expand its connected-home services (it sold the home-security firm’s Western Canada operations to Telus). Rogers has also offered smart-home monitoring since 2011. A home-security service is one more thing the telecoms can offer to try to stem their losses from cord-cutting.