OpenAI-Backed Thrive Holdings Announces Acquisition of Physical Security Firm ADT

Thrive Holdings, a holding company spinout backed by Josh Kushner's Thrive Capital and partnered with OpenAI, announced the acquisition of physical security company ADT for $10 per share, translating to approximately $7.6 billion in equity. According to ADT, the total enterprise value of the transaction reaches $15.3 billion. The announcement was made on Thursday.

Thrive Holdings operates as a long-term holding company focused on revitalizing acquired businesses using artificial intelligence. The firm currently reports holding over 75 companies. As part of its partnership with Thrive, OpenAI provides artificial intelligence models, technology, and forward-deployed engineering personnel to support these portfolio companies.

Acquisition Details and Future Plans

• Transaction Value: $10 per share, representing about $7.6 billion in equity.
• Enterprise Value: Reported by ADT at $15.3 billion.
• Strategic Focus: ADT is slated to form the foundation of Thrive Holdings' smart home security business.

Neither ADT nor Thrive Holdings disclosed specific upcoming artificial intelligence-powered security products in their initial announcement. However, the companies indicated plans to invest in and release new offerings moving forward. ADT maintains existing partnerships with tech giants such as Apple and Google, and the company is expected to continue these relationships.

Industry Context and Verification

• Market Activity: The physical security sector is seeing increased activity, with Apple introducing smart home and home security products alongside partners like LG and Schneider Electric, and Amazon updating its smart home lineup with artificial intelligence-powered cameras.
• Verification: Readers can verify the original announcement through official press releases issued by ADT and Thrive Holdings, or by reviewing corporate investor relations filings regarding the transaction terms.