ASX minnow Intelligent Monitoring Group has jumped to No.1 in its industry in 24-hour security monitoring of households and businesses in a $45 million deal.
An ASX minnow is turning itself into Australia’s No.1 player in home and business security monitoring with the $45 million acquisition of ADT Security in Australia and New Zealand.
Mr Dennison said the home and business security industry was highly fragmented and IMG intended to accelerate expansion.IMG went into a trading halt on Tuesday, with the group aiming to raise $15 million to fund the buyout. The shares closed on Monday at 12¢. The company is acquiring ADT Security from Tyco Australia Group, which is in turn owned by Johnson Controls International.
The enlarged group intends shifting further toward do-it-yourself installations from residential households, and away from wired security panel installations.
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