ADT AI security focus as Thrive buys ADT for $15.3bn
OpenAI-backed Thrive Holdings is paying about $7.6 billion in equity for ADT and plans to make ADT AI security the base of a long-term smart home business.
Thrive Holdings is buying ADT for $10 a share, or about $7.6 billion in equity.
The companies put the deal’s total enterprise value at $15.3 billion.
Thrive Holdings spun out of Josh Kushner’s Thrive Capital and counts OpenAI as a partner and investor.
OpenAI is to supply AI models, technology and forward-deployed engineers to Thrive’s companies.
No specific new ADT AI products were announced; the firms said they plan to invest and release new ones.