ADT (NYSE: ADT)
announced Thursday it has closed a $1.2 billion equity investment by State Farm. The transaction, first announced Sept. 6, results in the insurance company owning approximately 15 percent of ADT.
In addition to the equity investment, State Farm committed up to $300 million to fund product and technology innovation, customer growth and marketing activities in connection with the partnership. State Farm has funded the first $100 million and the two companies will collaborate to approve initiatives utilizing the funds.
Join the ranks of informed security integrators who trust SDM to guide their business decisions and keep them at the forefront of industry developments.
Exclusive Insights: Gain access to unparalleled industry research that provides you with detailed insights and projections that can help you strategically plan and adapt your business.
Professional Development: Podcasts, Videos, and Webinars highlight special topics from security intrusion and monitoring to the latest advancements in artificial intelligence and robotics - each session keeping you informed and ahead of the curve in this fast-paced industry.