Thrive Holdings to buy ADT for $10 a share in $15.3 billion deal
The acquisition gives ADT a $7.6 billion equity value and makes it the base of Thrive Holdings' smart home security business.
Thrive Holdings said on Thursday that it has agreed to acquire physical security company ADT at $10 per share, a deal valued at about $7.6 billion in equity and $15.3 billion in total enterprise value. The companies announced the acquisition jointly, according to TechCrunch.
ADT will form the foundation of Thrive Holdings' smart home security business, the companies said.
Thrive Holdings is a private equity spinout of Thrive Capital, the venture firm founded by Josh Kushner, and partners with OpenAI, which supplies AI models and engineers. The companies said they plan to invest in and release new AI-powered security products, but did not specify what those products will be.
The announcement comes as major technology companies push further into the connected home. In recent months, Apple entered the smart home and home security field with products made in collaboration with LG and Schneider Electric, and Amazon updated its smart home line, including new AI-powered home cameras.
Quick answers
How much is Thrive Holdings paying for ADT?
Thrive Holdings is paying $10 per share, about $7.6 billion in equity. The deal's total enterprise value is $15.3 billion.
What happens to ADT after the acquisition?
ADT will form the foundation of Thrive Holdings' smart home security business.
Are new AI security products coming?
The companies said they plan to invest in and release new AI-powered security products, but did not specify them.