Intelligent Monitoring Group is now the country’s top home and business security firm, after the $45 million takeover of ADT Security in Australia and New Zealand.

The sale means that IMG will add 340 staff and $95 million in avenue revenue to its books.

The company plans to pivot toward self-installations for homes, and away from the traditional wired security panel installations.

IMG managing director Dennison Hambling pointed out to AFR that 24-hour home security is still a nascent area in Australia, with just 5 per cent of households having a security system, compared to 23 per cent in the US.

“Demand is going up. Demand is strong,” he said. “It’s still really in the affluent areas. The penetration rate is still very low compared with the rest of the world.”

IMG now expects to generated $134 million a year, with EBIT of $24.8 million for the current financial year, which will jump to $31 million in 2023-24 according to the firm’s projections.

45 per cent of this business will come from household monitoring security, 45 per cent from business security, and 10 per cent from medical centres.

“We will be the largest provider of security monitoring services in Australia,” Hambling said.

The deal is expected to close by August 1.