Google to Invest in ADT’s Smart-Home Security Provider
On Monday, Google has said that it will invest over $450 million in ADT. The company will work with its headquartered firm’s which had about 20,000 technicians to sell and install smart home products in the search giant’s Nest in Florida.
Both companies will first focus on reaching more individual consumers and small businesses before granting a 6.6% stake in ADT to Google. They said then they will start focusing on building and selling its next-generation smart home security.
If the companies successfully reach set milestones, they will then each committed $150 million for product development, co-marketing, and investment in technology. Nest’s devices, in times, are expected to improve and enhance ADT’s security monitoring to become the cornerstone of ADT’s smart home offering, according to Rishi Chandra, GM, and VP at Nest.
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He also wrote “The goal is to give customers fewer false alarms, more ways to receive alarm events, and better detection of potential incidents inside and around the home. It will also provide people with more helpful notifications that make everyday life more convenient, like package detection. ADT customers will also have access to Nest Aware, a service that keeps people informed about important events at home, including intelligent alerts and event history recording for up to 30 days.”