Google pays $450m for stake in ADT

Irish Examiner - - Business -

Google has agreed to pay $450m (€382m) for a stake in se­cu­rity firm ADT as part of a part­ner­ship to cre­ate smarthome se­cu­rity prod­ucts. Google will get a 6.6% stake in newly cre­ated Class-B shares of the Florida-based firm, and ADT will in­te­grate Google’s hard­ware and ser­vices into its prod­ucts, the com­pa­nies said. Both com­pa­nies will com­mit an ad­di­tional $150m, sub­ject to the achieve­ment of cer­tain mile­stones. The deal will widen the po­ten­tial reach for Google’s own smart home de­vices, led by its Nest of­fer­ing.

Newspapers in English

Newspapers from Ireland

© PressReader. All rights reserved.