OpenAI-backed Thrive Holdings acquires ADT for $7.6 billion in equity
Thrive Holdings announced on Thursday that it has acquired physical security company ADT for approximately $7.6 billion in equity.
Deal structure and valuation
The total enterprise value of the transaction is $15.3 billion according to ADT. Thrive Holdings operates as a private equity spinout from Josh Kushner's Thrive Capital firm. OpenAI serves as both a partner and an investor within the acquiring entity.
Future product plans
Neither company disclosed specific new AI-powered security products they intend to release immediately. The press release stated that ADT will form the foundation of Thrive Holdings' smart home security business. Both sides plan to invest in and launch new offerings without further details.
Strategic partnership role
OpenAI supplies AI models, technology, and forward-deployed engineers to Thrive's portfolio companies. Thrive Holdings currently holds over 75 companies as part of its long-term investment mission. The firm aims to revitalize these organizations with artificial intelligence capabilities.
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