OpenAI-backed Thrive Holdings agrees to buy ADT at $10 a share
The deal makes ADT the base of a smart home security business inside a private equity group that owns more than 75 companies.
Thrive Holdings, a private equity spin-out backed by OpenAI, has agreed to buy ADT, the home and physical security company, at $10 per share, valuing its equity at roughly $7.6 billion. Including debt, the enterprise value comes to $15.3 billion, according to ADT. Thrive, which holds more than 75 companies and aims to revitalise them with AI, plans to make ADT the base of its smart home security business. Neither company has yet said which AI-driven security products will follow. The deal lands as larger players such as Apple and Amazon push further into AI-enabled home security.
Why it matters
For ADT's customers and staff, the most visible change is ownership: a private equity spin-out backed by OpenAI will now control the company, with an enterprise value of $15.3 billion including debt. Thrive's stated aim is to revitalise the companies it holds with AI, so ADT's direction will depend on which AI-driven security products it adopts, and neither company has yet said which those will be. The deal also puts a company with a long home security footprint in the same market where Apple and Amazon are expanding AI-enabled home security, making ADT's product choices a test of how well an AI-focused owner can change an established security business.
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