ADT Corporation today announced their board had unanimously approved Apollo Global Management’s offer to acquire the company. Apollo agreed to pay $42 per share, a 56% premium on ADT stock. Joining forces with another recent Apollo acquisition, ADT will be merged with Protection1 and the new company will maintain the ADT brand and corporate location.
Vector Security, one of the country’s largest and oldest providers of commercial and residential electronic security and home automation services, has acquired Pelican Security Network, Inc., a Louisiana-based alliance of security and fire protection providers, alarm dealers and systems integrators. Seventeen thousand new customers come with the deal.