OpenAI-backed Thrive Holdings to acquire ADT in a $15.3 billion transaction

Fri, Oct 30 03:56 UTC+8

ADT and Thrive Holdings announced on Oct 29 a definitive agreement for Thrive Holdings to buy ADT for $10 per share in cash, valuing it at about $7.6 billion in equity and $15.3 billion in enterprise value, a 45.6% premium to the unaffected pre-announcement close. ADT's board approved it unanimously; the deal has not yet closed.

Why it matters

Thrive Holdings, spun out of Thrive Capital, holds established businesses long-term and revamps them with AI; OpenAI, a partner and investor, supplies models and forward-deployed engineers. No specific AI products are announced yet.

Sources2Fri, Oct 30 03:56 UTC+8

ADTMediaADT to be Acquired by Thrive Holdings in $15.3 Billion TransactionView original
TechCrunchMediaOpenAI-backed Thrive Holdings acquires ADTView original

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