The transaction represents approximately $7.6 billion in equity for the physical security company. Thrive Holdings, spun out from Josh Kushner's venture firm Thrive Capital, manages over 75 companies under a mandate to hold them long-term and integrate advanced AI systems. Through their partnership, OpenAI will supply models and forward-deployed engineers to develop new AI-powered security products. This strategy unfolds as rivals like Amazon, Apple, LG, and Schneider Electric expand their own smart home and AI device offerings.
Key points
ADT will serve as the core foundation for Thrive Holdings' expanding smart home security…: ADT will serve as the core foundation for Thrive Holdings' expanding smart home security business.
Thrive Holdings operates with a long-term investment mandate aimed at revitalizing existi…: Thrive Holdings operates with a long-term investment mandate aimed at revitalizing existing portfolio companies using artificial intelligence.
The acquisition arrives as tech giants like Apple and Amazon aggressively update their ow…: The acquisition arrives as tech giants like Apple and Amazon aggressively update their own AI-driven home security hardware.
Sources checked by our analysis pipeline: 1
Thrive Holdings, the PE spin-out firm, has acquired physical security company ADT for $10 per share or about $7.6 billion in equity, the companies announced on Thursday. Beyond equity, the total enterprise value of the deal is $15.3 billion, ADT said.
Thrive Holdings is the PE spin-out from Josh Kushner’s powerhouse VC firm Thrive Capital. It also counts OpenAI as its partner, as well as an investor. The firm’s mission is to hold other companies long-term, revitalizing them with AI. Currently, Thrive Holdings holds over 75 companies, it says.
As a partner, OpenAI supplies AI models and tech as well as people, otherwise known as forward-deployed engineers, to Thrive’s companies.
Neither ADT nor Thrive announced what new AI-powered security products they will be releasing, but they did tease that the plan was to invest and release new products. “ADT will form the foundation of Thrive Holdings’ smart home security business,” the press release said.
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