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ADT Draws More Than $1.5 Billion of New Investments From State Farm, Google

ADT has secured investments totaling $1.5 billion from State Farm and a partnership aimed at expanding the security company’s customer base and improving risk-mitigation for insured homeowners, according to people familiar with the matter.

Under the deal, which is expected to be announced later Tuesday, State Farm will spend $1.2 billion to buy 133.3 million ADT shares, or about 15% of the company, the people said. That represents a share price of $9, above ADT’s Friday close of $7.21.