BCE to acquire AlarmForce in $166M deal
BCE Inc. announced it will acquire Toronto-based AlarmForce Industries in a deal valued at approximately $166 million.
"Bell is excited to welcome the AlarmForce team as we pursue the significant growth and innovation opportunities represented by the connected home. It's a natural next step for Bell as one of Canada's most trusted brands in residential services," said George Cope, president and CEO of BCE Inc. and Bell Canada in a statement. "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."
Bell said the acquisition will enable it to expand its home security portfolio quickly into Ontario and Quebec. AlarmForce’s offerings will be integrated into the residential services already offered by Bell, as well as providing “new service bundling and technology development opportunities.” The company currently provides security monitoring services in the Maritimes and Manitoba through Bell Aliant NextGen Home Security and AAA Security.
AlarmForce currently serves more than 100,000 Canadians through the provision of services including intrusion systems; smoke, flood and carbon monoxide detection; and mobile medical alert systems.
The transaction is expected to close in January 2018, subject to customary closing conditions.
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