Thrive Holdings has agreed to acquire US home security provider ADT for $10 a share in cash, valuing its equity at approximately $7.6 billion and the overall business at $15.3 billion. The offer represents a 45.6% premium to ADT’s closing share price on 27 October and received unanimous board approval.
Completion is expected in the first quarter of 2027, subject to shareholder and US antitrust approval. ADT may solicit competing offers until 28 November, with a potential ten-day extension for certain bidders. Once the transaction closes, its shares will cease trading.
Funds managed by affiliates of Apollo Global Management are providing all the financing. Apollo previously took ADT private in 2016, returned it to the New York Stock Exchange in 2018 and sold its remaining stake five months before the announcement.
Established by Joshua Kushner’s Thrive Capital last year, Thrive Holdings is structured to retain businesses for longer than a typical private equity firm. Its portfolio comprises more than 75 businesses across accounting, IT services and the built environment. OpenAI, both an investor and a partner, supplies AI models and engineers to its companies; ADT will anchor its smart home security business.
Thrive says new technology could reduce false alarms, make alerts more informative and detect equipment faults earlier. ADT technicians already sell and install Google Nest devices and Apple’s new smart home range. The companies say existing data and privacy policies will remain unchanged, with customer permission required for any new data sharing.
