ADT acquires half of Ackerman Security customer accounts
ADT announced that Atlanta-based Ackerman Security Systems has joined ADT’s authorized dealer program and will sell and install ADT smart home security services to its new customers. As part of the partnership, ADT has agreed to acquire approximately half of Ackerman Security’s existing customer accounts for initial cash consideration of US$73 million.
Ackerman Security, founded in 1976, joins more than 200 independently owned and operated ADT authorized dealers and expands ADT’s reach in Georgia, Virginia and Maryland.
“As we are preparing to roll out our next generation of smart home products and services, ADT is well-positioned to leverage our capital, our partnerships and innovation to deliver smart home and commercial security solutions,” said Jim DeVries, president and CEO of ADT, in a statement. “Ackerman Security is a great addition to our national network of high-quality, professional security providers.”
“ADT is a leader in home security and a trusted brand known for their commitment to excellence in service,” said Richard Perry, president and CEO of Ackerman Security Systems. “We are thrilled by the opportunity to join the ADT team and know that our subscribers will benefit from an enhanced customer experience that includes access to the latest innovations in smart home security.”
In 2015, Imperial Capital Group of Toronto, along with partner OP Trust Private Markets Group, announced that it had completed an investment in Ackerman Security Systems.