ADT skyrockets 97% after announcing it will partner with Google on smart home security products
Google will invest $450 million for a 6.6% ownership stake in ADT, securing a"mutual, long-term commitment to partnership,"
. Both companies will provide $150 million for co-marketing, product development, technology, and employee training.A Wall Street quant chief breaks down why a COVID-19 vaccine is not the silver bullet investors have been hoping for - and warns another stock-market meltdown is likely The partnership will combine Nest hardware and services with Google technology and ADT's installation, service, and professional monitoring network, and is focused on residential and small business security. The products and services will be available for both do-it-yourself and professional installation.
ADT expects to offer customers certain Google devices this year, and will expand the integration in 2021, according to a statement.
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