Thrive Holdings agreed to acquire ADT for $10 a share in cash, a 45.6% premium that values the home security company at about $7.6 billion in equity and $15.3 billion including debt. Thrive Holdings, a spinout of Josh Kushner’s Thrive Capital that counts OpenAI as an investor and partner, buys traditional businesses and rebuilds them around AI, with OpenAI supplying models and engineers. ADT will become the base of Thrive’s smart home security business, and Thrive says ADT’s privacy policies won’t change and no customer data will be shared without permission. Apollo funds are financing the deal, which needs shareholder and antitrust approval and is targeted to close in the first quarter of 2027, after which ADT will leave the NYSE.
