OpenAI-backed Thrive Holdings acquires ADT
· Technology · TechCrunch
Thrive Holdings, backed by OpenAI and spun out of Thrive Capital, acquired physical security firm ADT for $10 per share, valuing the deal at $7.6 billion in equity and $15.3 billion in total enterprise value. The acquisition marks Thrive Holdings' expansion into smart home security, with ADT forming the foundation of its new business. OpenAI will provide AI models, technology, and forward-deployed engineers to support product development. The companies have not announced specific new AI-powered security products but plan to invest and release them. ADT currently holds over 75 companies under Thrive Holdings' portfolio.
Why it matters
The deal positions Thrive Holdings to leverage AI in physical security, creating potential competition for Apple and Amazon in the smart home market while offering Indian consumers advanced security solutions.
Read the original report — TechCrunch
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