PERTH: Intelligent Monitoring Group Ltd (IMG) said on Wednesday it has agreed to acquire all shares of Australian security services firm BNP Securities Pty Ltd for A$4.2 million ($4.2 million) in cash, as it seeks to expand its footprint in the physical guarding market.
The acquisition will be made through IMG’s subsidiary, ADT Security Group Pty Ltd, for its newly formed ADT Guard division, the company said in a statement.
BNP, established in 1993, provides manned guarding, patrols and alarm response services primarily in New South Wales. The deal is expected to be completed later on Wednesday.
IMG Managing Director Dennison Hambling said the acquisition would help accelerate the rollout of the company’s live video monitoring services in a segment traditionally reliant on physical manpower.
“Customers of all sizes, who have adopted this product, have seen a significant (in some cases up to 50%) cost reduction in the cost of physical security provision and experienced far improved deterrence and apprehension outcomes,” Hambling said.
The company expects the deal to be immediately earnings accretive, projecting pro forma annualised EBITDA of A$1.4 million, in line with its previous acquisitions.
IMG said the deal will help ADT Guard showcase its video-based security solutions to a broader customer base, using BNP’s established reputation in traditional security services.
($1 = 1.0000 Australian dollars)