The Thrive ADT Acquisition is official: Thrive Holdings has agreed to buy ADT for $10 a share in cash, valuing the home security company at about $7.6 billion in equity and $15.3 billion in enterprise value. ADT’s board unanimously approved the all-cash deal, the companies announced Thursday morning, October 29, 2026.
The $10 price represents a 45.6 percent premium to ADT’s unaffected closing price of $6.87 on October 27, and a 52.1 percent premium to its 30-day volume weighted average price. Once the transaction closes, ADT will become a privately held company and its shares will stop trading on the New York Stock Exchange.
The Deal Terms
Thrive Holdings is a permanent capital holding company, spun out of Josh Kushner’s Thrive Capital, with a mandate to own established businesses over the long term and modernize them with technology, according to TechCrunch. It currently owns more than 75 businesses across accounting, IT services, and the built environment, and it counts OpenAI as both a partner and an investor.
As a partner, OpenAI supplies AI models and technology to Thrive’s companies, along with people described as forward-deployed engineers. Thrive’s stated mission is to hold companies long term and revitalize them with AI, and the announcement says ADT will become “the foundation of Thrive Holdings’ smart home security business.”
The acquisition is backed by financing commitments from funds managed by Apollo Global Management affiliates, and it is not subject to a financing condition. ADT may still solicit better offers for 30 days, through November 28, with a possible 10-day extension for parties that bid during that window. Citi and Goldman Sachs advised ADT; Evercore advised Thrive Holdings. The deal is expected to close in the first quarter of 2027, pending shareholder approval and US antitrust clearance.
Why It Matters
“ADT is pleased to enter into this transaction, which recognizes the value built by our more than 12,000 employees and delivers an attractive cash premium to our stockholders,” said Jim DeVries, ADT’s chairman, president and chief executive. He added that with Thrive Holdings’ long-term capital and technology expertise, ADT would “gain new opportunities to accelerate innovation, enhance the customer experience and bring greater peace of mind to even more homes and businesses.”
The deal is a large bet on AI-powered physical security, a category that is heating up fast. Apple recently entered smart home security in partnership with LG and Schneider Electric, and Amazon has refreshed its smart home lineup with new AI-powered cameras, as TechCrunch noted. Some startups are even deploying AI dog robots as roving security guards.
For Thrive, ADT offers a nationwide service network, more than 150 years of security experience, and a customer base across US homes, a rare physical foothold for an AI-first investment strategy. Thrive’s engineering teams will work alongside ADT’s professionals to find ways technology can improve products and service. The companies say ADT’s data protection and privacy policies will remain unchanged, with no new data sharing without customer permission.
What Comes Next
“We intend to build on that foundation by strengthening ADT’s technology and product capabilities, with the capital and patience to invest over decades,” said Kareem Zaki, a partner at Thrive Holdings. “Our ambition is to help ADT’s teams better serve customers and offer a seamless service with more actionable information for the professionals responding.”
Until the transaction closes, ADT will continue to operate independently. The company still reports third-quarter results on November 3, though it will not take questions on the call given the announced deal. Investors and stockholders will receive proxy materials through the SEC before the shareholder vote.
