Google Buys Stake in ADT to Help It Sell More Nest Devices

Google has announced a $450 million investment in security firm ADT to increase the adoption of IoT security devices.

"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. Google's prowess in hardware design and software will give ADT access to technology it wouldn't be able to build on its own. "Over time, Nest's devices, powered by Google's machine learning capabilities, will enhance ADT's security monitoring", Google said.

After the partnership was announced, shares in ADT skyrocketed as much as 98% premarket. They were up 57% to $14.40 at 11:17 NY.

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Very bad day aside, don't sound the alarm for just yet: Its share price is still up ~34% since the start of the year.

"Google's partnership and financial investment in ADT underscores the depth of our joint commitment to the smart home and security markets". You'll nearly certainly have seen one of the company's somewhat iconic yellow alarms on the outside of a building to make anyone reconsider attempting a break-in.

"The partnership with Google is us no longer pursuing a path of product agnosticism and aligning with someone we think is the best in the business", said ADT Chief Executive Officer Jim DeVries.

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The update was first spotted by Reddit user Brazedowl, real name Drew, who posted on August 1 to say his Google Home smart speaker had alerted him, via the Google smartphone app, when his smoke alarm went off while cooking.

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. Both the companies will also commit $150 million for co-marketing, product development, technology and employee training.

ADT is one of the most recognisable security brands in the world.

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