ADT stock soars 65% after $450 million Google investment

Ruben Fields
August 5, 2020

Google on Monday announced a partnership with security firm ADT and said as part of this multi-year partnership, it will "make a $450 million investment in ADT".

Google is paying $450 million for a almost 7% stake in longtime home and business security provider ADT Inc., a deal that will open new opportunities for one of the internet's most powerful companies to extend the reach of its Nest cameras and voice-activated voice assistant. ADT stated that it expects that it will be in a position to offer certain Google devices to its customers starting this year with further expansion anticipated into 2021.

The companies are joining forces that will see Google's award-winning Nest hardware combine with ADT's security and monitoring service to create a set of fully integrated devices, software and services for secure smart home's. ADT Chief Executive Officer Jim DeVries said "the combined solution will unlock access to new customers seeking premium technology, end-to-end smart-home services and trusted security". With the ADT's network, the Nest devices will be able to get into more customers' hands looking for smart-home service.

Since buying Nest back in 2014, Google hasn't been shy about turning the hardware company into one of the biggest names in home security.

The deal with ADT is a positive step forward for Nest in that it may result in potentially more customers as well as more consumer awareness.

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"The complete ADT + Google helpful home security solution will utilise a secure platform for a seamless experience that prioritises privacy and interoperability for greater customer peace of mind and choice". The firm's product offerings include home security systems, fire and life safety, identity theft protection, security cameras and a mobile safety application for families called ADT Go.

This will result in fewer false alarms and better detection of incidents.

Both the Nest cameras and Home Hub can be operated through voice commands processed by the Google digital assistant that competes against Amazon's Alexa and Amazon's Siri in a key area of artificial intelligence.

Google will receive ADT shares of a newly created Class B common stock that will not have right to vote.

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