Paul, Weiss advised ADT Inc. in a $450 million investment from Google in connection with the companies’ establishment of a long-term commercial partnership to create the next generation of smart home security offerings. Upon the closing of Google’s equity investment in ADT, Google will own 6.6% of ADT’s outstanding aggregate common equity. The equity investment is expected to close in the third quarter of 2020, subject to customary closing conditions.
The Paul, Weiss team advising ADT in the equity investment includes, among others, antitrust counsel Marta Kelly; tax partner Brad Okun and counsel Alyssa Wolpin; finance partner Gregory Ezring; intellectual property partner Charles Googe; litigation partners Andrew Ehrlich, Daniel Kramer, Lewis Clayton and Roberto Gonzalez and counsel Steven Herzog and Peter Jaffe; employee benefits partner Lawrence Witdorchic; and environmental counsel William O'Brien.