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State Farm makes $1.2bn equity investment in ADT
Written by Adam Cadle
08/09/2022
State Farm is to make a $1.2bn equity investment in smart home and small business security brand, ADT, and therefore will acquire around 15% of the company.
The deal will make the insurer ADT’s second-largest investor after Apollo Global Management.
Citi and Evercore were the financial advisers to ADT, and Cravath, Swaine & Moore LLP acted as legal advisor. Morgan Stanley & Co. LLC was the financial advisor to State Farm, and Sidley Austin LLP acted as legal advisor.
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