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OpenAI-backed Thrive Holdings acquires ADT in a $15.3 billion deal

Thrive Holdings, the holding company spun out of Thrive Capital, is buying security company ADT for $10 per share, about $7.6 billion in equity. Including debt, the deal's enterprise value is $15.3 billion, and the plan is to bring AI to the home security business.

OpenAI-backed Thrive Holdings acquires ADT in a $15.3 billion deal
Image: TechCrunch (opens the source site in a new tab)

According to TechCrunch, Thrive Holdings already holds more than 75 companies with the aim of owning them long term and revitalizing them with AI. OpenAI is a partner and investor, supplying the group's companies with models, technology and forward-deployed engineers.

According to the companies' announcement, ADT will form the foundation of Thrive Holdings' smart home security business. They did not say which AI-based products they will release. ADT currently works with Apple and Google and is expected to continue those partnerships.

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