OpenAI-backed Thrive Holdings buys ADT for $7.6 billion

Key facts

• Thrive Holdings acquired ADT for $7.6 billion in equity.
• The total enterprise value of the deal is $15.3 billion.
• ADT will form the foundation of Thrive Holdings’ smart home security business.

Thrive Holdings, a private equity spin-out firm backed by OpenAI, has acquired physical security company ADT for $7.6 billion in equity, valuing the deal at $15.3 billion in enterprise value. Thrive Holdings, which partners with OpenAI for AI models and engineers, aims to revitalize its portfolio companies. ADT is expected to become the foundation of Thrive Holdings' smart home security business, with plans to invest in and release new AI-powered products.