● Covered by 1 source · 1 reportMedium impact1 neutral
OpenAI-backed Thrive Holdings Acquires ADT for $7.6 Billion in Equity
Key points
- Thrive Holdings acquired ADT for $7.6 billion in equity ($15.3 billion enterprise value).
- OpenAI is a partner and investor in Thrive Holdings, providing AI models and engineers.
- Thrive Holdings aims to revitalize acquired companies, including ADT, with AI.
- ADT will form the foundation of Thrive Holdings' smart home security business.
Thrive Holdings Acquires ADT
Thrive Holdings announced the acquisition of ADT, a physical security company, for $10 per share, amounting to approximately $7.6 billion in equity. The total enterprise value of the deal is $15.3 billion.
Role of Thrive Holdings and OpenAI
Thrive Holdings is a private equity spinout from Thrive Capital, with OpenAI acting as both a partner and an investor. OpenAI supplies AI models, technology, and forward-deployed engineers to companies within Thrive Holdings' portfolio. Thrive Holdings' stated mission is to hold companies long-term and revitalize them using AI, currently holding over 75 companies.
Future Plans for ADT
While specific new AI-powered security products were not announced, both ADT and Thrive indicated plans for investment and new product releases. The press release stated that ADT will become the foundation of Thrive Holdings' smart home security business.
Context in Smart Home Security
This acquisition occurs amidst increased activity in AI-powered physical security. Apple recently entered the smart home and home security market through collaborations with LG and Schneider Electric. Amazon also updated its smart home product line, introducing new AI-powered home cameras.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
Thrive Holdings, a spinout from Thrive Capital with OpenAI as a partner, acquired physical security company ADT for $7.6 billion in equity, totaling an enterprise value of $15.3 billion. Thrive Holdings plans to integrate AI models and technology from OpenAI into ADT's operations to revitalize the company and develop new smart home security products.