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Telstra is understood to have spent between $40 million and $60 million to buy into SNP Security's back-to-base alarm and security camera business. The deal will see Telstra and SNP, which is Australia's third-largest security company, form a new subsidiary called TelstraSNP Monitoring that will provide customers with monitored security. Telstra will own slightly more than 50 per cent of the TelstraSNP Monitoring but its day-to-day operations will largely be managed by SNP staff, Telstra business group managing director Will Irving said.

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Media Release - Telstra and SNP secure deal for future growth


Telstra has today announced a joint venture with Australia's third largest security firm, which will lock in a new phase of the company's growth strategy and establish a platform in the monitored security industry.

The partnership, formed between Telstra and SNP Security, will be named TelstraSNP Monitoring (TSM) and will offer monitored security for business and residential customers. SNP Security will continue to operate their guarding services, patrol and aviation business as a separate entity to TelstraSNP Monitoring.

Telstra Business Group Managing Director, Will Irving, said the new venture was a logical fit for Telstra given the reliance on telecommunication networks to deliver monitored security.

"Telstra is already involved in monitored security as the largest provider of connectivity and we see this as a great opportunity to enable our customers to get so much more from monitored services," Mr Irving said.

"SNP is a company that has been around for 90 years, has a great reputation and just as importantly is an industry leader when it comes to customer service, innovation and developing advocacy.

"Together we will provide an unrivalled set of productivity tools for small and medium businesses and great peace of mind and remote management options for households.

"I think there are a number of untapped areas of growth in the monitored security business and think that this joint venture establishes a strong platform as we build towards not only the connected home but the intelligent business.

"We are committed to becoming the productivity engine for small business in Australia and think that this will provide many more customers access to a greater range of monitored security services. It also provides entry into the residential market and I believe we can make a strong offer to our customers," Mr Irving said.

Tom Roche, SNP Security Managing Director, said that the joint venture opened up huge opportunities to deliver their 90 years of experience to new markets and design innovative solutions.

"Joining with Telstra in this way will allow TSM to provide unexpected services to our customers by using technology that is already available to us," Mr Roche said.

"We could not have achieved this alone however together with Telstra we can create unexpected services and experiences for our customers.

"This is an exciting opportunity for SNP to grow our footprint in the residential market and we are proud to have been selected by Telstra for this joint venture. SNP adapts and pursues excellence, we have a strong history of growth and being a leader in the Australian security industry. This joint venture will strengthen that position and generate additional growth and opportunities for both businesses and their customers," Mr Roche said.

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