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ADT Goes Private in $7.6B AI Deal
29 Oct
Summary
- Thrive Holdings is acquiring ADT in an all-cash deal.
- The transaction is valued at $7.6 billion and expected to close in Q1 2027.
- AI investor Thrive Holdings aims to integrate artificial intelligence into ADT's operations.
Thrive Holdings, a firm investing in traditional businesses with AI applications, has announced its acquisition of ADT in a substantial all-cash deal. This significant transaction is valued at $7.6 billion and is anticipated to conclude in the first quarter of 2027. Upon completion, ADT will transition from a publicly traded entity to a privately held company.
Joshua Kushner, brother of Jared Kushner, leads Thrive Holdings, which focuses on integrating AI into various business sectors. ADT, a well-known name in home security, has already forged strategic partnerships with tech leaders, enabling the installation of smart home devices like Google Nest and Apple products.
ADT CEO Jim DeVries expressed optimism about the acquisition, stating that Thrive Holdings' long-term capital and technology acumen will provide ADT with avenues for accelerated innovation. This move is expected to enhance the customer experience and extend greater peace of mind to a broader customer base.
