Microtec announces it has concluded an agreement to acquire Alarmes et Sécurité Atak Inc., a specialized commercial security firm with more than 2,000 subscribers. Atak will be integrated with the new commercial subsidiary of Microtec to serve a total of more than 15,000 subscribers. This transaction was financed by a combination of cash and the issue of 12.5 percent of the shares of the new privately held subsidiary. Robert Branchaud, CEO of Atak, will become the president of the new subsidiary.
“I am very pleased with this transaction and extend a warm welcome to Mr. Branchaud, who has agreed to join Microtec as president of our new commercial subsidiary,” comments Raymond Gilbert, chairman and CEO of Microtec Enterprises Inc. “Along with Mr. Sylvain Falardeau and the rest of his team, he will be playing a front-line role in the future growth of Microtec.” Microtec Enterprises is active in the home automation industry in Canada and is Canada’s leading provider of residential security services.
