An ADT Security sign sits out in front of a home in Sandy Springs, Georgia Friday, May 11, 2007. Tyco bondholder American International Group Inc. this week sued the owner of ADT security systems in an effort to block it from buying back $6.6 billion of debt as part of a plan to split into three companies. Photographer: Chris Rank/ Bloomberg News. "ADT's partnership with State Farm creates the capability to drive innovation in homeowners insurance on a broad scale. By delivering a truly connected home, together we can improve the customer experience and provide more peace of mind," Jim DeVries, ADT president and CEO, said in a release. (Credit: CHRIS RANK/Bloomberg)

In an effort better leverage smart home technology in its homeowners insurance lines, State Farm is making a $1.2 billion equity investment in ADT, Inc. in exchange for 133.3 billion shares of ADT (priced at $9 per share). The deal, which is expected to close in 2022's final quarter, will give State Farm approximately 15% ownership in ADT.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]