Thrive Holdings to Buy ADT Security for $15.3 Billion in Cash

Thrive Holdings, an AI-focused investment company started by OpenAI investor Thrive Capital, said Thursday that it plans to buy 152-year-old home security firm ADT in a transaction that values the company’s equity at around $7.6 billion. ADT shares surged 34% on the announcement.

Apollo Global Management is providing the debt financing for the transaction, valuing ADT at an enterprise value of $15.3 billion, including debt. The deal, which is slated to close in the first quarter of 2027, will serve as the foundation for Thrive’s new smart home security business, the company said.

Josh Kushner’s Thrive Capital launched Thrive Holdings to start and acquire companies that could benefit from AI, particularly in service-focused sectors like accounting. It has previously backed accounting firm Crete Professionals Alliance and IT services company Shield Technology Partners.

ADT said that it still plans to report its third-quarter earnings on Nov. 3, but the company won’t be taking any questions on the call.