ADT Stock Jumps 15% on State Farm, Google Investments
It’s not every day that ADT (NYSE: ADT ) is talked about in the financial trading community. However, today ADT stock is trending and heading higher due to investments from a couple of well-known businesses. Reportedly, State Farm plans to take a 15% stake in ADT with a $1.2 billion investment. Not only that, but Alphabet’s (NASDAQ: GOOG , NASDAQ: GOOGL ) Google pledged to invest as much as $150 million in ADT. ADT is known as a home and business security-system provider. However, ADT also specializes in modern smart-home technology. Evidently, the company’s security|risk-mitigation and smart-home tech capabilities caught the interest of insurance giant State Farm. State Farm reportedly plans to invest $1.2 billion in ADT at $9 per share. With that, State Farm will acquiring around 15% of ADT. In addition, State Farm pledged to invest as much as $300 million toward “an opportunity fund to support product innovation, technology and marketing that seeks to differentiate and improve the customer experience for homeowners.” Furthermore, State Farm will obtain a seat on ADT’s board of directors.
ADT Stock Jumps 15% on State Farm, Google Investments
It’s not every day that ADT (NYSE: ADT ) is talked about in the financial trading community. However, today ADT stock is trending and heading higher due to investments from a couple of well-known businesses. Reportedly, State Farm plans to take a 15% stake in ADT with a $1.2 billion investment. Not only that, but Alphabet’s (NASDAQ: GOOG , NASDAQ: GOOGL ) Google pledged to invest as much as $150 million in ADT. ADT is known as a home and business security-system provider. However, ADT also specializes in modern smart-home technology. Evidently, the company’s security|risk-mitigation and smart-home tech capabilities caught the interest of insurance giant State Farm. State Farm reportedly plans to invest $1.2 billion in ADT at $9 per share. With that, State Farm will acquiring around 15% of ADT. In addition, State Farm pledged to invest as much as $300 million toward “an opportunity fund to support product innovation, technology and marketing that seeks to differentiate and improve the customer experience for homeowners.” Furthermore, State Farm will obtain a seat on ADT’s board of directors.