Google announced a $450 million agreement with ADT in August 2020 and has since pledged an additional $150 million. The security firm has a new partnership with State Farm, a provider of insurance.
Google invested $450 million in ADT two years ago for an ownership position worth 6.6% of the company. In order to advance the cooperation, Google and ADT committed agreed to an additional $150 million at the time, subject to the accomplishment of specific targets. This money would be used for co-marketing, product development, technology, and employee training.
Google has committed a total of $300 million to the success fund, adding additional $150 million to support opportunities brought about by this kind of innovation. It will be put to use for brand-new sales initiatives and associated tasks.
According to Rishi Chandra, vice president and general manager of Google Nest, a smart home should look after the occupants while also assisting in keeping them safe and secure. We are developing the next generation of smart home security products through our cooperation with ADT.
ADT installers can set up products more quickly and easily on the job thanks to the one thing app, which was developed as a result. The current line model of Nest Cams and Doorbells is included, and Nest Hubs are also offered for sale.
ADT smart home security systems Command