San Francisco, Aug 4 : Google has announced a long-term, strategic partnership with ADT, a leading US security and home automation provider, with infusion of $450 million into the company to develop secure smart home audio and video devices.
Google will own approximately 6.6 per cent of ADT’s outstanding aggregate common equity.
The investment is in exchange for shares of a newly-created Class B common stock having all the rights and preferences of ADT’s common stock except for the right to vote on the election, appointment or removal of directors, the tech giant said on Monday.
Google will combine its Nest devices, services and technology with ADT’s leadership position providing security solutions for millions of homes and small businesses in the US.
“The partnership pairs more than 20,000 ADT professionals together with Nest’s portfolio of helpful home devices,” said Rishi Chandra, Vice President and GM, Nest.
The company’s network of thousands of professional technicians will be able to sell and install devices like Nest Cameras and Nest Hub Max, all powered by Google Assistant.
Over time, Nest’s devices, powered by Google’s machine learning capabilities will enhance ADT’s security monitoring and become the cornerstone of ADT’s smart home offering.
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,” informed Google.
The Search engine giant in June announced that its Advanced Protection Programme (APP) is now available for Nest smart home devices.
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