Google’s $450 Million PIPE Investment in ADT

Wilson Sonsini Goodrich & Rosati advised Google on the deal, while Paul, Weiss, Rifkind, Wharton & Garrison and O’Melveny & Myers LLP advised ADT.

ADT Inc., a leading provider of security, automation and smart home solutions, announced that Google has agreed to purchase $450 million of ADT’s newly created Class B common stock in a private placement, subject to certain closing conditions. Google is making the PIPE (private investment in public equity) deal in connection with its entry into a strategic partnership with ADT through which Google’s Nest hardware will be combined with ADT’s security, professional installation, and monitoring service to create a fully integrated set of devices, software, and services.

Google LLC is a global technology company specializes in internet-related services and products. The Company is primarily focused on web-based search and display advertising tools, search engine, cloud computing, software, and hardware.

The Wilson Sonsini Goodrich and Rosati team advising Google in the PIPE investment included Mike Nordtvedt (Picture),Victor Nilsson, and Dylan Peterson.

The Paul, Weiss team advising ADT in the equity investment included M&A partners Taurie Zeitzer and Justin Rosenberg; securities partner Tracey Zaccone; antitrust partner Andrew Finch and counsel Daniel Howley and 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.

The O’Melveny team included partner Andy Dolak and special counsel Scott Pink.

Involved fees earner: Andrew Dolak – O’Melveny & Myers LLP; Scott Pink – O’Melveny & Myers LLP; Lewis Clayton – Paul Weiss Rifkind Wharton & Garrison; Andrew Ehrlich – Paul Weiss Rifkind Wharton & Garrison; Gregory Ezring – Paul Weiss Rifkind Wharton & Garrison; Andrew Finch – Paul Weiss Rifkind Wharton & Garrison; Roberto Gonzalez – Paul Weiss Rifkind Wharton & Garrison; Charles Googe – Paul Weiss Rifkind Wharton & Garrison; Steven Herzog – Paul Weiss Rifkind Wharton & Garrison; Daniel Howley – Paul Weiss Rifkind Wharton & Garrison; Peter Jaffe – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; Daniel Kramer – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison; Brad Okun – Paul Weiss Rifkind Wharton & Garrison; Justin Rosenberg – Paul Weiss Rifkind Wharton & Garrison; Lawrence Witdorchic – Paul Weiss Rifkind Wharton & Garrison; Alyssa Wolpin – Paul Weiss Rifkind Wharton & Garrison; Tracey Zaccone – Paul Weiss Rifkind Wharton & Garrison; Taurie Zeitzer – Paul Weiss Rifkind Wharton & Garrison; Victor Nilsson – Wilson Sonsini Goodrich & Rosati; Michael Nordtvedt – Wilson Sonsini Goodrich & Rosati; Dylan Peterson – Wilson Sonsini Goodrich & Rosati;

Law Firms: O’Melveny & Myers LLP; Paul Weiss Rifkind Wharton & Garrison; Wilson Sonsini Goodrich & Rosati;

Clients: ADT Corporation; Google;

Author: Ambrogio Visconti