Sidley is representing State Farm in its agreement to invest US$1.2 billion in ADT, a leading provider of smart home and small business security solutions. The equity investment and certain related transactions will result in State Farm owning approximately 15% of ADT. State Farm will also invest up to an additional US$300 million in an opportunity fund to support product innovation, technology development, and marketing to be undertaken together with ADT. This partnership launches State Farm into a new category, allowing the company to reimagine the homeownership experience and innovate new ways to apply smart home technology to home insurance.
The Sidley team is being led by Michael Pinsel (Insurance), Pran Jha, and Joe Michaels (M&A), and Glenn Nash (Technology and Life Sciences Transactions), and includes Jack Melamed and Liz Buescher (M&A); Rachelle Soderstrom (Technology and Life Sciences Transactions); Bill Blumenthal and Edward Sharon (Antitrust/Competition); and Suresh Advani and Jennifer Waclawik (Tax).