Fidelity Security Group is set buy ADT, the South African security business belonging to US based Tyco for approximately R1.9 billion ($140 million).<\/p>\n
ADT provides central monitoring services including video surveillance and dispatch, armed response, access control and other security-related services to more than 365,000 residential, small-to-medium sized enterprises and larger commercial customers.<\/p>\n
It also provides centralised security monitoring services, including the dispatch of armed response guards, fire detection and protection, access control as well as other security-related services, through a nationwide network that includes 26 branch locations and about 9,700 employees.<\/p>\n
After the transaction is completed, Tyco will continue to provide its fire, security and life safety products in South Africa.<\/p>\n
ADT will serve as a local distributor for Tyco’s residential and commercial security products and solutions, as well as Tyco’s specialized performance solutions for retail businesses.<\/p>\n
ADT will retain its name and will operate as Fidelity ADT, a subsidiary of Fidelity Security Group.<\/p>\n
The transaction is expected to close in the first quarter of 2017.<\/p>\n
In a statement issued on Thursday, Fidelity said its purchase of ADT will boost armed response and security technology offering. It will also affirm its level one broad-based black empowerment rating.<\/p>\n
The expanded Fidelity group will have more than 168 points of presence across Southern Africa and support around 57,000 employees.<\/p>\n
How much money security guards make in South Africa<\/strong><\/a><\/p>\n