Johannesburg - Fidelity Security Group is set to buy ADT South Africa from its NYSE-listed parent Tyco for an undisclosed amount.
This purchase follows its January 2015 acquisition of the Bidvest Protea Coin Cash Management Solutions business from Bidvest.
ADT provides central monitoring services including video surveillance and dispatch, armed response, access control and other security-related services to more than 365 000 residential, small-to-medium sized enterprises and larger commercial customers.
It also provides centralised security monitoring services, including the dispatch of armed response guards, fire detection and protection, access control as well as other security-related services, through a nationwide network that includes 26 branch locations and about 9 700 employees.
In a statement issued on Thursday, Fidelity says its purchase of ADT will boost armed response and security technology offering. It will also affirm its level one broad-based black empowerment rating, it adds.
“The acquisition also allows us to add an exceptionally strong team with deep industry knowledge and experience to our current portfolio,” says Wahl Bartmann, Fidelity Security Group’s CEO.
After the acquisition, ADT will retain its name and will operate as Fidelity ADT, a subsidiary of Fidelity Security Group. The expanded Fidelity group will have more than 168 points of presence across Southern Africa and support around 57 000 employees.
Stuart Clarkson, CEO of ADT, says the deal allows ADT to offer customers a more integrated, proactive and robust security and proactive guarding service.
Fidelity ADT will act as a local distributor for Tyco’s residential and commercial security products and specialised performance solutions for retail businesses, including the electronic article surveillance Sensormatic range of products. Tyco will also continue to provide its fire, security and life safety products to the South African market.
The acquisition is subject to regulatory approvals, including approval from the Competition authorities.
IOL