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( 07 Nov 2017)
BCE Inc. to acquire AlarmForce Ind for $166 mn

BCE Inc. (Bell) on Monday said it will acquire AlarmForce Industries Inc., a Canadian leader in home security and monitoring services, in a transaction valued at approximately USD 166 million.

“The AlarmForce acquisition will be completed through a plan of arrangement under which Bell will acquire all the issued and outstanding common shares of AlarmForce for USD 16.00 per share in an all-cash offer, for a total transaction equity value of USD 184 million,” Bell said in a statement.

"Bell is excited to welcome the AlarmForce team as we pursue the significant growth and innovation opportunities represented by the connected home. It's a natural next step for Bell as one of Canada's most trusted brands in residential services," said George Cope, President and CEO of BCE Inc. and Bell Canada.

"Leveraging Bell's network and service leadership and our place in millions of Canadian homes, we look forward to growing our nascent position in security and automation services to ensure Bell residential customers are at the leading edge of connected home innovation."

AlarmForce shareholders may elect to receive BCE common shares in lieu of cash, subject to proration, capped at 49.5 per cent of the total equity value. Subject to customary closing conditions, including, without limitation, court, AlarmForce shareholder and stock exchange (TSX and NYSE) approvals, the transaction is expected to close in January 2018.