(RTTNews) - ADT Inc. (ADT) shares are soaring on Monday morning as Google's parent Alphabet Inc. agreed to invest $450 million in ADT to create smart-home security products. As per the agreement, Google will have have a 6.6 percent stake in Class B shares of the residential and commercial security providers. ADT will integrate Google's hardware and services to its installation service and professional monitoring network. The deal is expected to conclude in the third quarter.
ADT is currently trading at $15.40, up 75.82 percent from its previous close of $8.61 percent on volume of 29,283,546. For the 52-week period, the shares have traded in a range of $3.40 to $17.00 on average volume of 1,924,763.
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