OpenAI-backed Thrive Holdings acquires ADT
Thrive Holdings, an OpenAI-backed firm, has acquired security company ADT for $7.6 billion in equity. The deal aims to integrate AI technology into ADT's existing smart home security infrastructure.
Why it matters
This acquisition signals a broader trend of AI integration into physical security and smart home consumer products.
Thrive Holdings, the PE spin-out firm, has acquired physical security company ADT for $10 per share or about $7.6 billion in equity, the companies announced on Thursday. Beyond equity, the total enterprise value of the deal is $15.3 billion, ADT said.
Thrive Holdings is the PE spin-out from Josh Kushner’s powerhouse VC firm Thrive Capital. It also counts OpenAI as its partner, as well as an investor. The firm’s mission is to hold other companies long-term, revitalizing them with AI. Currently, Thrive Holdings holds over 75 companies, it says.
As a partner, OpenAI supplies AI models and tech as well as people, otherwise known as forward-deployed engineers, to Thrive’s companies.
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