Thrive Holdings Acquires ADT for $10 per Share, OpenAI on Board

Thrive Holdings has acquired ADT for $10 per share, valuing the equity at approximately $7.6 billion and the company at $15.3 billion in enterprise value. This move aligns with a stated strategy of revitalization through AI, with OpenAI as a partner, as consumer-focused players enhance their connected security offerings.

Apple and Amazon Activate Connected Security, Robots Already Patrolling

Apple recently launched a range of smart home security products in partnership with LG and Schneider Electric. Amazon has updated its connected home devices, including new home security cameras utilizing AI. Additionally, some startups are offering AI-powered canine security robots to conduct patrols. These initiatives reflect a strong momentum in the physical security sector integrating artificial intelligence.

$10 per Share for ADT and $15.3 Billion in Enterprise Value

Thrive Holdings has acquired ADT for $10 per share, valuing the equity at approximately $7.6 billion. According to ADT, the total enterprise value in this transaction reaches $15.3 billion. The two companies announced the deal on a Thursday.

Thrive Aims for Revitalization Through AI with Support from OpenAI

Thrive Holdings, stemming from Thrive Capital founded by Josh Kushner, is a private equity firm that claims to own over 75 companies and aims to revitalize them through artificial intelligence. OpenAI is a partner and investor in Thrive Holdings, providing AI models, technologies, and specialized engineers to the portfolio companies. ADT and Thrive have not specified which new AI-based security products will be launched, but they have indicated their intention to invest in and develop new products. The press release states that ADT will form the foundation of Thrive Holdings' smart home security business.