ADT acquired Cell Bounce (consideration included warrants to purchase up to ~2 million ADT shares at $7.77, vesting over three years on milestones), a transaction completed in November 2020, structured as private transaction (consideration included share-purchase warrants).
Cell Bounce operates in Technology, is based in United States. Cell Bounce is a technology company with proprietary radio-conversion technology delivered as a user-installable device, intended to let ADT transition customers off 3G networks cost-efficiently as carriers sunset 3G service.
ADT acquired the technology to manage the 3G-to-newer-network transition of its installed base in a cost-efficient and timely manner.
Proprietary self-installable radio-conversion technology addressing the mandatory 3G network sunset across ADT's customer base. Cost-efficient conversion of 3G-dependent customer equipment without truck rolls.
During November 2020, we acquired Cell Bounce, a technology company with proprietary radio conversion technology in the form of a user-installable device, which is expected to allow for the transition of customers on 3G networks in a cost efficient and timely manner.ADT Inc. FY2020 Form 10-K
Advisory firms were not disclosed for this transaction.