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ADT Stock Goes Up 97%

Video Credit: Wochit News - Duration: 00:36s - Published
ADT Stock Goes Up 97%

ADT Stock Goes Up 97%

On Monday, ADT announced that it will be partnering with Google on a new line of smart home security products.

Business Insider reports shares of ADT surged as much as 100% Monday to an all-time high of $17.21.

Google will invest $450 million for a 6.6% ownership stake in ADT.

The partnership will combine Nest hardware and services with Google technology and ADT's installation, service, and professional monitoring network.

The partnership is focused on residential and small business security.


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Google announces partnership with ADT, to invest Dollar450 million [Video]

Google announces partnership with ADT, to invest Dollar450 million

Google on Monday announced a partnership with security firm ADT and said as part of this multi-year partnership, it will 'make a Dollar 450 million investment in ADT'. "Today, we're announcing a long-term, strategic partnership between Google and ADT, a leading US security and home automation provider," Rishi Chandra, Vice President and GM, Nest, said in a blog post. Chandra said that Google will combine its Nest devices, services, and technology with ADT's leadership position providing security solutions for "millions of homes and small businesses in the US." "Over time, Nest's devices, powered by Google's machine learning capabilities will enhance ADT's security monitoring and become the cornerstone of ADT's smart home offering. The goal is to give customers fewer false alarms, more ways to receive alarm events, and better detection of potential incidents inside and around the home," Chandra said. Chandra said that ADT customers will also have access to Nest Aware, a service that keeps people informed about important events at home, including intelligent alerts and event history recording for up to 30 days. "As part of this multi-year partnership, Google will make a Dollar450 million investment in ADT in exchange for shares of a newly created Class B common stock having all the rights and preferences of ADT's common stock except for the right to vote on the election, appointment or removal of directors," the blog post read. "Upon the closing of Google's equity investment in ADT, Google will own approximately 6.6 per cent of ADT's outstanding aggregate common equity. Google's equity investment, which is subject to customary closing conditions, is expected to close in the third quarter of 2020," Chandra added.

Credit: ANI    Duration: 01:09Published

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Tech giant Google has announced that Nest thermostat owners, who encountered a 'w5' error, would have their thermostats replaced if the normal troubleshooting steps failed. According to Mashable, Google has acknowledged the existence of a hardware fault leading to the w5 error and it is still not clear exactly what is causing the problem, However, the company will replace thermostats if the normal troubleshooting steps don't work. Google has confirmed the same in a statement provided to Android Police. A part of the statement read, "This does not affect the thermostat's ability to control the customer's heating and cooling system in the home, but does impact the user's ability to manage the thermostat remotely. There's also a support page specifically for those running into a w5 error on their Nest thermostat. Google's statement noted that only "a very small number" of users are affected by the issue, though a lengthy support thread dating back to November 2019 and its 200+ replies suggests otherwise

Credit: ANI    Duration: 01:12Published

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