Since buying Nest back at ADT.
According to a blog post from Nest Vice President Rishi Chandra, the company will be pouring $US450 ($632) million dollars into ADT, effectively becoming an owner of roughly six and a half per cent of ADT’s stock. Aside from making their mark financially, the ensuing “multiyear partnership” that Chandra describes will see ADT professional installers across the country being partnered with “Nest’s portfolio of helpful home devices.”
The ultimate goal here, according to Chandra, is that Nest’s algorithmic chops will boost ADT’s reputation in the home security game and that Nest’s portfolio will eventually be the “cornerstone” of ADT’s smart home setups.
“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,” he wrote.
Further, the ADT name doesn’t resonate with new consumers while Nest, with its collection of small devices that can follow you from apartment to apartment, is far more familiar to the Millenial audience.
According to the announcement, ADT customers are also going to be able to get their hands on Nest Aware, a subscription service that gives Nest productÂ owners access to 30 days worth of historical data of the goings-on in their home.