Google invests millions into home security firm ADT Google + ADT
In an order to make it easier for users to add Nest devices to their homes, Google and ADT have announced a new long-term, strategic partnership.
Under the partnership, Google will combine its Nest devices, services and technology with ADT’s expertise in providing security solutions for millions of homes and small businesses in the US. ADT’s network of over 20,000 professionals and technicians will be able to sell and install devices such as Nest Cameras and Nest Hub Max as part of deal.
Google’s Nest devices, powered by the company’s machine learning capabilities, will enhance ADT’s security monitoring over time and become the cornerstone of the home security company’s smart home offering. The goal of the partnership is to give customers fewer false alarms, more ways to receive alarm events and better detection of potential incidents inside and around the home. ADT customers will also have access to Nest Aware which keeps people informed about important events at home including intelligent alerts and even history recording for up to 30 days.
President and CEO of ADT, Jim DeVries praised the new partnership in a press release, saying:
“We are thrilled to partner with Google to provide the smart home market with a strong, differentiated product and service offering that integrates the best technology, hardware and smart home security expertise from our two brands. Google’s partnership and financial investment in ADT underscores the depth of our joint commitment to the smart home and security markets. Our entire leadership team is looking forward to continuing our work with Google as we define the future of helpful home security and build a productive long-term partnership.”
Equity investment
As part of the multi-year partnership between the two companies, Google will make a $450m investment in ADT in exchange for shares of a newly created Class B common stock. This investment will also give the search giant a 6.6 percent stake in the security company.
Additionally, each company will commit an extra $150m that will be used for co-marketing, product development, technology and employee training.
ADT expects to offer some of Google’s Nest devices to its customers beginning this year and the integration will be expanded in 2021. The complete ADT + Google helpful home security solution will utilize a secure platform for a seamless experience that prioritizes privacy and interoperability for greater customer peace of mind and choice.
In an order to make it easier for users to add Nest devices to their homes, Google and ADT have announced a new long-term, strategic partnership. Under the partnership, Google will combine its Nest devices, services and technology with ADT’s expertise in providing security solutions for millions of homes and…
