Thrive Holdings acquires ADT for 15.3 billion dollars
TechCrunch: OpenAI-backed Thrive Holdings acquires ADT
OpenAI-backed Thrive Holdings is buying ADT in a $15.3 billion deal, with plans to bring AI to the home security business.
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Thrive Holdings, a private equity firm backed by OpenAI, has acquired physical security company ADT for $10 per share, with a total enterprise value of $15.3 billion. Thrive Holdings is a spin-out from a venture capital firm and partners with OpenAI to supply AI models, technology, and engineers to its portfolio companies. ADT will serve as the foundation for Thrive Holdings' smart home security business, though specific new AI-powered products have not yet been announced. This acquisition reflects growing investment in AI-powered physical security, as major technology companies including Apple and Amazon have recently launched their own smart home security offerings.
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