Google pays $450m for stake in ADT
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.