OpenAI-backed Thrive Holdings acquires ADT — SkimNews
Get the Tech newsletter
Daily tech — startups, AI labs, chips, the launches that shape the next decade. Free.
- Thrive Holdings announced Thursday that it had acquired ADT for $10 per share, representing about $7.6 billion in equity.
- ADT put the transaction’s total enterprise value at $15.3 billion, separate from the roughly $7.6 billion equity purchase.
- Thrive Holdings is the holding-company spinout from Josh Kushner’s Thrive Capital and counts OpenAI as both a partner and investor.
- OpenAI supplies AI models, technology and forward-deployed engineers to companies held by Thrive Holdings.
- Thrive Holdings says it holds more than 75 companies, using AI to revitalize them while retaining them long term.
- ADT will form the foundation of Thrive Holdings’ smart-home security business, and the companies teased plans to invest and release new products without specifying what they would be.
- ADT already partners with Apple and Google and is expected to continue those relationships following the acquisition.
Why it matters: Thrive Holdings gains ADT as the foundation for smart-home security while OpenAI supplies models, technology and engineers across a portfolio of more than 75 companies. For ADT, the immediate change is a new owner through a $15.3 billion enterprise-value deal and a stated plan to invest in and release products, but no specific AI security offering was disclosed.
Ask SkimNews
