Google invests millions in home security company ADT

Google invests millions in home security company ADT

To make it easier for users to add Nest devices to their homes, Google and ADT have announced a new long-term strategic partnership. As part of the partnership, Google will combine its Nest devices, services and technologies with ADT's expertise to provide security solutions to millions of homes and small businesses across the United States. ADT's network of more than 20,000 professionals and technicians will be able to sell and install devices like Nest cameras and Nest Hub Max as part of the deal. Google's Nest devices, powered by the company's machine learning capabilities, will improve ADT's security monitoring over time and become a cornerstone of the security company's smart home offering. domesticated. The goal of the association is to provide customers with fewer false alarms, more ways to receive alarm events, and better detection of potential incidents in and around the home. ADT customers will also have access to Nest Aware, which keeps people informed about important events at home, including smart alerts and even history logs for up to 30 days. ADT President and CEO Jim DeVries praised the new partnership in a press release, saying, “We are delighted to partner with Google to provide the smart home market with a strong and differentiated product and service offering that incorporates the best technologies. , the best hardware and expertise in smart home security from our two brands. . Google's partnership and financial investment in ADT underscore the depth of our shared commitment to the smart home and security markets. Our entire management team looks forward to continuing to work with Google as we define the future of useful home security and build a long-term, productive partnership. "

A fair investment

As part of the multi-year partnership between the two companies, Google will invest €450 million in ADT in exchange for shares of a new Class B common stock. The investment will also give the search giant a 6.6% stake. in the security society. In addition, each company will commit an additional €150 million to be used for joint marketing, product development, technology and employee training. ADT plans to offer some of Google's Nest devices to its customers starting this year and the integration will extend into 2021. The complete ADT + Google home security solution will use a secure platform for a seamless experience that prioritizes privacy and interoperability. for greater peace of mind and customer choice.