Google Invests $450M In ADT For Smart Home Partnership
Law360 (August 3, 2020, 8:18 PM EDT) -- Google will pay $450 million to acquire a 6.6% stake in Paul Weiss-steered home security company ADT as the two join forces on smart home security, ADT said Monday.
Florida-based ADT Inc. said Google will invest $450 million in ADT in exchange for shares of newly created Class B common stock, giving the technology giant a 6.6% stake in ADT's outstanding common stock, the announcement said. The companies hope to pair Google's smart home hardware, Nest, with ADT's installation and monitoring network, the announcement said.
The companies will also commit $150 million each to the partnership, subject to certain milestone achievements,...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!