Sale To ADT
FirstService Corp., owner of Intercon Security has sold its integrated security division to Tyco International's ADT Security Services for $187 million USD moving forward to focus more on its real estate services and business.
Chief executive Jay Hennick in a statement said "While the future prospects of our security division are excellent, particularly its strong internal growth potential, we concluded that accelerating the growth of our three real estate services platforms through a combination of internal growth and acquisitions would create greater long-term value for the shareholders of FirstService,"
The deal was accepted by the boards of both companies.
Read more about this topic: Intercon Security
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