Alphabet Inc (GOOGL.O) Google acquired a 6.6% stake in ADT Inc (ADT.N) for $450 million, "betting" on the home security company’s strong customer base and a team of technicians to Promote sales of its Nest equipment. ADT's stock price almost doubled, hitting a high of $17.2.
This investment allows ADT to gain the support of high-profile technology partners and broaden its service business. At the same time, Google has also gained about 6.5 million customers and has strengthened its presence in home safety-related businesses when it competes with Amazon (AMZN.O)'s Ring and Boston-based SimpliSafe. ADT said on Monday that the two companies will study how to combine popular Google products such as Home Mini, Nest Thermostat and Nest Wifi with ADT's advantages in installation and maintenance. The two companies will each invest $150 million in joint marketing, product development, technology and employee training. source