Home security firm ADT acquired by Apollo Global
Private equity firm Apollo Global Management has acquired ADT for nearly $7 billion and will merge it with another home security firm, Protection 1.
Apollo will pay $42 per share of ADT, a premium of nearly 56% over ADT's closing share price Friday of $26.87.
ADT will be merged with Apollo-owned Prime Security Services Borrower LLC, of which ADT competitor Protection 1 is a subsidiary. The new combined firm will retain the name ADT and remain headquartered in Boca Raton, Fla.
“We are tremendously excited by this unique opportunity to combine two premier businesses,” said Apollo senior... read more
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