ADT (NYSE:ADT) and Google (GOOG, GOOGL) enter into a long-term partnership to create the next generation of smart home security offerings, whereby Google hardware and services will be integrated with ADT’s installation, service and professional monitoring network.
ADT expects to offer certain Google devices to its customers beginning this year and to expand the integration 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
Google will make a $450M investment in ADT in exchange for shares of a newly created Class B common stock having all of the rights and preferences of ADT’s common stock.
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