Key Takeaways
- • Thrive Holdings, the private equity spin-out of Thrive Capital, has agreed to acquire physical security company ADT at $10 per share, or about $7.6 billion in equity value.
- • The total enterprise value of the transaction is $15.3 billion, according to ADT.
- • OpenAI, which is both a partner and an investor in Thrive Holdings, supplies AI models, technology and forward-deployed engineers to the firm's portfolio companies.
- • ADT will serve as the foundation of Thrive Holdings' smart home security business, with new AI-powered products planned but not yet specified.
Summary
Thrive Holdings, the private equity spin-out from Josh Kushner's venture firm Thrive Capital, has acquired physical security company ADT for $10 per share, the companies announced on Thursday, October 29, 2026. The deal values ADT's equity at about $7.6 billion, and the total enterprise value, including debt, at $15.3 billion, according to ADT.
Thrive Holdings is structured to acquire companies and hold them long-term, with the goal of revitalizing them using artificial intelligence. The firm says it currently holds more than 75 companies. OpenAI is both a partner and an investor in Thrive Holdings. Under that arrangement, OpenAI supplies AI models and technology, along with personnel known as forward-deployed engineers, to Thrive's portfolio companies.
According to the press release, ADT will form the foundation of Thrive Holdings' smart home security business. Neither company disclosed specific AI-powered security products it plans to launch, though both said they intend to invest in and release new offerings.
The acquisition comes as AI-powered physical security attracts growing attention from large technology companies. The article notes that Apple recently entered the category with a new line of smart home and security products developed with LG and Schneider Electric, and that Amazon updated its smart home lineup with new AI-enabled home cameras. A number of startups are also experimenting with AI-equipped robotic security devices.
Thrive Holdings is structured to acquire companies and hold them long-term, with the goal of revitalizing them using artificial intelligence. The firm says it currently holds more than 75 companies. OpenAI is both a partner and an investor in Thrive Holdings. Under that arrangement, OpenAI supplies AI models and technology, along with personnel known as forward-deployed engineers, to Thrive's portfolio companies.
According to the press release, ADT will form the foundation of Thrive Holdings' smart home security business. Neither company disclosed specific AI-powered security products it plans to launch, though both said they intend to invest in and release new offerings.
The acquisition comes as AI-powered physical security attracts growing attention from large technology companies. The article notes that Apple recently entered the category with a new line of smart home and security products developed with LG and Schneider Electric, and that Amazon updated its smart home lineup with new AI-enabled home cameras. A number of startups are also experimenting with AI-equipped robotic security devices.
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