Thrive Holdings Acquires ADT

OpenAI-backed Thrive Holdings has acquired physical security company ADT for $10 per share, representing an equity value of approximately $7.6 billion and a total enterprise value of $15.3 billion.

Thrive Holdings, a holding company that spun out of Josh Kushner's venture capital firm Thrive Capital, announced that it has acquired ADT. According to information shared by ADT, the total enterprise value of the transaction stands at $15.3 billion.

Thrive Holdings operates with the mission of revitalizing companies with artificial intelligence for long-term holding and houses more than 75 companies under its umbrella. OpenAI acts as a partner and investor in the company, providing AI models, technology, and engineering support to the companies within Thrive.

Although ADT and Thrive have not yet announced new AI-powered security products, they shared plans to invest and launch new products. In the press release issued, it was stated that ADT will form the foundation of Thrive Holdings' smart home security business.