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Google to invest $450 mln to acquire 6.6% stake in ADT

Credit: REUTERS/MIKE BLAKE

August 03, 2020 — 06:36 am EDT

Written by Subrat Patnaik for Reuters ->

Aug 3 (Reuters) - Home security firm ADT Inc ADT.N said on Monday Alphabet Inc's GOOGL.O Google would invest $450 million to acquire 6.6% stake in the company.

The companies will partner with each other to combine Google Nest hardware products with ADT's installation, service and professional monitoring network, ADT said in a statement.

(Reporting by Subrat Patnaik in Bengaluru; Editing by Krishna Chandra Eluri)

((subrat.patnaik@tr.com; Twitter: @Subrat_Patnaik;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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