ADT, a provider of security, automation, and smart home solutions, completed the acquisition of Defenders, its largest independent dealer, for $381m in cash and stock. "We’re excited to officially join forces with the impressive Defenders team after successfully partnering with them for nearly 22 years so that, as one company, we can create a unique and simplified platform. This opportunistic acquisition creates numerous strategic, financial and operational advantages for ADT, and is consistent with our stated goal of driving down the capital intensity of the business as we seek to drive long-term, profitable growth," Jim DeVries, ADT President and Chief Executive Officer.