ADT Inc, a provider of security, automation, and smart home solutions serving consumer and business customers in the United States, announced that it has acquired Defenders, its largest independent dealer and only Authorised Premier Provider, for a purchase price of approximately $381 million.
As part of the transaction, Defenders founder David P. Lindsey and Jessica A. Lindsey received approximately 16.3 million shares of ADT common stock for 100% of their ownership in Defenders, while the remaining $260 million of consideration was paid in cash to retire existing Defenders debt, fund other liabilities, and pay transaction expenses. The cash consideration was partially funded from existing revolving credit facilities.
