Google`s $450 million investment in ADT is expected to close in Q3 2020.
What you need to know
Google has entered into a long-term partnership with ADT to develop next-gen smart home security products.
As part of the partnership, Google will invest $450 million to acquire 6.6% ownership in ADT.
Both Google and ADT have also committed $150 million each for product development, co-marketing, technology, and employee training.
Google today announced that it will be investing $450 million for a 6.6% stake in ADT, a Florida-based home security firm. According to a press release issued by ADT, the two companies have entered into a long-term partnership to develop next-gen smart home security solutions.
Rishi Chandra, Vice President and GM, Nest, wrote in a blog post:
Over time, Nest`s devices, powered by Google`s machine learning capabilities will enhance ADT`s security monitoring and become the cornerstone of ADT`s smart home offering. The goal is to give customers fewer false ...
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