Telguard’s parent company, Telular Corporation, Chicago, and Avista Capital Partners, New York, jointly announced they entered into a definitive agreement providing for the acquisition of Telular for $12.61 per share net in cash and approximately $18.5 million in assumed net debt, or approximately $253 million in total consideration.
The sale indicates a growing interest in home automation and its recurring monthly revenue opportunities, a clear bonus for investors like Avista. As Brendan Scollans, partner at Avista, said, “Telular’s strong position in three rapidly growing machine-to-machine communications end markets and compelling recurring revenue business model make it a highly attractive platform for Avista.