OpenAI-backed Thrive Holdings acquires ADT for $15.3 billion
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Thrive Holdings, the private equity spinoff of Thrive Capital and an OpenAI-backed company, acquired ADT for $10 per share, or about $7.6 billion in equity value. ADT said the deal’s total value, including other components, is $15.3 billion. The companies announced the transaction on Thursday.
Thrive Holdings said ADT will form the foundation of its smart home security business and that it plans to invest in and release new AI-powered products, without detailing what they will be. As a partner and investor, OpenAI supplies models, technology and specialized engineers to Thrive Holdings’ companies. Thrive Holdings says it holds more than 75 companies.
Why it matters · editorial interpretation
The acquisition makes ADT the foundation of a smart home security operation that plans to release AI-powered products, although details have not been disclosed. OpenAI’s role as a provider of models, technology, and specialized engineers connects the strategy to a business network that Thrive Holdings says includes more than 75 companies.
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