Thrive Holdings acquires ADT in 15.3 billion dollar buyout deal

Thrive Holdings has agreed to acquire physical security provider ADT for 10 dollars per share, according to TechCrunch Venture. TechCrunch Venture and The Information both report that the transaction values ADT's equity at approximately 7.6 billion dollars. Including debt, ADT confirmed that the total enterprise value of the transaction reaches 15.3 billion dollars. [1][2]

Thrive Holdings is an investment company spun out from Josh Kushner's venture firm Thrive Capital, according to TechCrunch Venture and The Information. TechCrunch Venture reported that the holding firm currently maintains stakes in over 75 companies with a mandate to acquire and hold businesses long-term while updating their operations using artificial intelligence. [1][2]

OpenAI serves as both an investor and an operational partner to Thrive Holdings, according to TechCrunch Venture. Under this partnership, OpenAI provides artificial intelligence models and technical support, including sending forward-deployed engineers to work directly with acquired businesses. [1]

Following the public announcement of the acquisition on Thursday, shares of the 152-year-old security company ADT jumped 34 percent, according to figures reported by The Information. [1][2]