Bell Canada Enterprises (BCE) has announced that it will be acquiring home security and automation systems manufacturer, AlarmForce Industries, in a deal worth $166mn.
With over 100,000 subscribers, AlarmForce is considered a leading name in the Canadian home and securities industry.
“Bell is excited to welcome the AlarmForce team as we pursue the significant growth and innovation opportunities represented by the connected home,” said George Cope, President and CEO of BCE. “It's a natural next step for Bell as one of Canada's most trusted brands in residential services.”
Bell will use the acquisition to facilitate its expansion into the connected home sector in both Ontario and Quebec, with AlarmForce being such an established name. By combining the assets of the two, synergies are expected in network connectivity, distribution, installation, and customer service operations.
“Leveraging Bell's network and service leadership and our place in millions of Canadian homes, we look forward to growing our nascent position in security and automation services to ensure Bell residential customers are at the leading edge of connected home innovation,” Cope continued.
Under the terms of the deal, Bell will acquire the entirety of AlarmForce at $16 per share in an all cash offer, expected to complete by January 2018.