ADT Inc. To Sell ADT Canada To TELUS - Quick Facts

(RTTNews) - ADT Inc. (ADT) has agreed to sell ADT Security Services Canada, Inc. to TELUS Corp. (TU) for approximately C$700 million. ADT Canada is a provider of security and automation solutions serving residential and business customers. For the fiscal year ended December 31, 2018, ADT Canada generated revenue of $229 million.

Jim DeVries, President and CEO, ADT, said: "The sale of our more capital intensive Canadian operations enables us to sharpen our focus on the exciting growth and higher margin opportunities in the U.S., where we can more efficiently invest our time and resources."

ADT Inc. expects to incur a non-cash charge in the third quarter in connection with the transaction, which may be material to the company's earnings.

Separately, ADT Inc. announced that its Board has authorized a one-time special dividend of up to $550 million and plans to set the dividend at $0.70 per share. The special dividend is conditioned upon the closing of the transaction.