SYDNEY, AUSTRALIA: Intelligent Monitoring Group Limited (IMG), Australasia’s largest security and fire monitoring business, has announced the acquisition of about 3,100 security customers from Securely, a subsidiary of Electra Group.
The deal was made at a record low price of $NZ290 per customer and is expected to boost IMG’s earnings as the customers are transitioned to ADT’s Onehunga control room by the end of December 2023.
IMG also revealed that it has traded above its forecast earnings level in the first month of ownership of ADT Security Australia and NZ, which it acquired on 1st August 2023. The company said it is on track to deliver the $31m annualised EBITDA target set at the time of the ADT acquisition.
IMG’s Managing Director Dennison Hambling expressed his confidence in the company’s growth prospects and service quality, and invited shareholders to attend the AGM on 26th October in Rydalmere, New South Wales.
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