Google To Buy Stake In ADT In Home Security Push For $450 Million

An anonymous reader quotes a report from Reuters: Alphabet’s Google is picking up a 6.6% stake in ADT for $450 million, betting on the home security company’s strong customer base and an army of technicians to drive sales of its Nest devices. The investment gives ADT the backing of a high-profile technology partner and broadens its services business. In return, Google gets access to about 6.5 million customers, strengthening its presence as it competes with Amazon’s Ring and Boston-based SimpliSafe, among others. ADT said on Monday that the two companies would work on ways to package popular Google products like Home Mini, Nest Thermostat and Nest Wifi with ADT’s strength in installation and maintenance. “Later this year, we will begin integrating Google devices and make them available for installations to our customers,” ADT Chief Executive Officer Jim DeVries told Reuters. “We will exclusively support Nest products,” DeVries said, adding that the companies will build products together and start rolling them out next year. The companies will commit an additional $150 million each for co-marketing, product development, technology and employee training, ADT said.