Thrive Holdings to acquire ADT in $7.6 billion deal

Thrive Holdings, a private equity firm led by Joshua Kushner, has announced an agreement to acquire physical security company ADT. The all-cash transaction is valued at approximately $7.6 billion in equity, representing $10 per share. The total enterprise value of the deal is estimated at $15.3 billion.

Thrive Holdings, which originated as a spinout from Thrive Capital, aims to revitalize traditional businesses by integrating artificial intelligence into their workflows. The firm maintains a partnership with OpenAI, which provides AI models and engineering expertise to Thrive’s portfolio companies.

ADT will serve as the foundation for Thrive Holdings’ smart home security business. While specific new products have not been detailed, the companies indicated plans to invest in and release new AI-powered security solutions. The deal is expected to close in the first quarter of 2027, at which point ADT will become a private company.