Google to acquire a 6.6% stake in ADT for $450m.

Google agreed to acquire a 6.6% stake in ADT, a provider of security and smart home solutions for $450m. As part of the agreement, each company will commit $150m for co-marketing, product development, technology and employee training. “We are thrilled to partner with Google to provide the smart home market with a strong, differentiated product and service offering that integrates the best technology, hardware and smart home security expertise from our two brands. Google’s partnership and financial investment in ADT underscores the depth of our joint commitment to the smart home and security markets. Our entire leadership team is looking forward to continuing our work with Google as we define the future of helpful home security and build a productive long-term partnership," Jim DeVries, ADT President and CEO.