Atlanta-based Ackerman Security Systems has announced the sale of assets to ADT and has joined the ADT Authorized Dealer Program to sell and install ADT smart home security services to new customers. The nearly 50-year-old security company joins more than 200 independently owned and operated ADT Authorized Dealers and expands ADT’s reach in Georgia, Virginia and Maryland.
“The partnership will give us access to significant additional resources and allow us to expand the services we provide to customers, including the latest innovations in smart home security,” Ackerman president Rich Perry said in a statement.
As part of the partnership, ADT has agreed to acquire approximately half of Ackerman Security’s existing customer accounts for initial cash consideration of $73 million. The Edmonds Group served as exclusive financial advisor to Ackerman for the transaction.
“As we are preparing to roll out our next generation of smart home products and services, ADT is well-positioned to leverage our capital, our partnerships and innovation to deliver smart home and commercial security solutions,” Jim DeVries, President and CEO of ADT, said in a statement. “Ackerman Security is a great addition to our national network of high-quality, professional security providers.”
According to a press release from ADT, the relationship represents a significant opportunity for customers to upgrade to the latest ADT smart home products and services and extends ADT’s reach along the east coast, specifically in the fast-growing tech hub of Atlanta.