Thrive Holdings to acquire ADT in $15.3 billion deal

Thrive Holdings, an investment entity backed by OpenAI and linked to Josh Kushner’s Thrive Capital, has announced an agreement to acquire ADT, a prominent provider of physical security and alarm systems. The total enterprise value of the deal is estimated at $15.3 billion, with Thrive Holdings offering $10 per share, valuing ADT’s equity at approximately $7.6 billion.

The acquisition aims to establish an innovative platform for intelligent security technologies. OpenAI is participating in the venture as both an investor and a technological partner. Beyond providing AI models, OpenAI will deploy engineers to work directly with Thrive Holdings’ portfolio companies to implement customized artificial intelligence systems.

Thrive Holdings focuses on the long-term acquisition and modernization of businesses through advanced technology. The company currently manages a portfolio of over 75 businesses. While specific AI-driven security products have not yet been disclosed, the partnership is intended to use ADT as the foundation for Thrive Holdings’ smart home security business.