NEW YORK: Alphabet Inc's Google is picking up a 6.6 per cent stake in ADT Inc for US$450 million, betting on the home security company's strong customer base and an army of technicians to drive sales of its Nest devices.
ADT said on Monday that the two companies would work on ways to package popular Google products like Home Mini, Nest Thermostat and Nest Wifi with ADT's strength in installation and maintenance. "We will exclusively support Nest products," DeVries said, adding that the companies will build products together and start rolling them out next year.The companies will commit an additional US$150 million each for co-marketing, product development, technology and employee training, ADT said.
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