Tag: Rishi Chandra
ADT announces State Farm investment, partnership
September 6, 2022SSN Staff
BOCA RATON, Fla. and BLOOMINGTON, Ill.—ADT has announced it will receive a $1.2 billion equity investment from State Farm, resulting in the home insurance provider owning approximately 15 percent of the company after the equity investment and the tender offer close.
This investment will allow State Farm to acquire 133.3 million shares of ADT’s common stock at $9 per share.
In addition, ADT plans to partner with State Farm and build upon its existing relationship...
ADT and Google partner with plans to dominate smart home
August 4, 2020Paul Ragusa
BOCA RATON, Fla.—ADT and Google announced a long-term partnership with the goal of creating an end-to-end smart home solution that combines Google’s technology platform with ADT’s installation, service and professional monitoring network.Google will make a $450 million investment in ADT, which equates to 6.6 percent of ADT’s outstanding aggregate common equity, in exchange for shares of a newly created Class B common stock having all of the rights and preferences of ADT's common stock...