Thrive Holdings Acquires ADT in $15.3 Billion Deal to Build AI-Driven Smart Home Security
Thrive Holdings, a private equity spin-out from Thrive Capital with backing and technical partnership from OpenAI, has announced the acquisition of physical security provider ADT. The deal is valued at $10 per share, representing approximately $7.6 billion in equity and a total enterprise value of $15.3 billion. Thrive Holdings intends to use ADT as the cornerstone of its smart home security division, leveraging OpenAI's models and engineering talent to revitalize the company with AI-powered products. This acquisition comes amid intensifying competition in the AI-integrated home security sector from major players like Apple, Amazon, LG, and Schneider Electric.
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Topics: Artificial Intelligence Mergers and Acquisitions Physical Security Private Equity
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Part of the story Thrive Holdings Acquires ADT in $15.3 Billion Deal to Build AI-Driven Smart Home Security (5 articles)