Google is investing $450 million in ADT to acquire a 6.6% stake in the Florida-headquartered firm that provides security and smart home solutions, the two said today.
As part of the long-term investment, the two companies will work on next generation smart home security offerings, they said.
“The partnership will combine Nest’s award-winning hardware and services, powered by Google’s machine learning technology, with ADT’s installation, service and professional monitoring network to create a more helpful smart home and integrated experience for customers across the United States,” ADT wrote in a blog post.
“We’re excited to partner with ADT to further our mission of building helpful devices for the home,” said Rishi Chandra, GM and Vice President of Nest, in a statement. “ADT is a leader in smart home security, and I look forward to working with the team to create innovative smart home security solutions that help everyone feel safe and protected.”
More to follow…