ADT will also receive another $150 million for product development from existing investor Google, the Alphabet-owned search engine giant that took a 6% stake in ADT in 2020.
Once a call or text exchange is initiated, an ADT agent can monitor an ongoing trip, stay in contact throughout the trip, and call 911 on the user’s behalf with key trip details.
Jeff Likosar has been named president, corporate development and chief transformation officer, after serving as ADT’s CFO. Ken Porpora, previously executive vice president, will succeed Likosar as CFO.
Ford and ADT Inc. will invest in a new joint venture called Canopy that combines ADT’s security monitoring and Ford’s AI-driven video camera technology to help customers strengthen security of new and existing vehicles across automotive brands.