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ADT Surges On Google Partnership To Create Smart Home Security Offering

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ADT Surges On Google Partnership To Create Smart Home Security Offering

ADT (NYSE: ADT) shares are trading higher on Monday after the company announced entering into a long-term partnership with Alphabet Inc. (NASDAQ: GOOGL)(NASDAQ: GOOG) to create a smart home security offerings.

Google will invest $450 million in the company for 6.6% ownership.

ADT is a provider of monitored security, interactive home and business automation and related monitoring services in the U.S. and Canada. ADT offers residential, commercial, and multi-site customers a comprehensive set of burglary, video, access control, fire and smoke alarm, and medical alert solutions.

"The partnership will integrate Google's hardware and services and ADT's DIY and professionally installed smart home security solutions to innovate the residential and small business security industry," according to a press release. "The future ADT + Google helpful home security solution is expected to advance smart home offerings and attract new consumers seeking premium technology, end-to-end smart home service and trusted security."

ADT expects to offer certain Google devices to its customers beginning this year and to expand the integration in 2021.

ADT stock was trading up 65.62% to $14.26 per share in Monday’s pre-market session. The stock has a 52-week high of $9.70 and a 52-week low of $3.40.

 

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