Thrive Holdings Takes ADT Private for $7.6 Billion, and Pays a 46% Premium to Get It
Josh Kushner's investment firm is buying the home security giant for $10 a share, and Wall Street is already calling it a steal.
Thrive Holdings, the investment firm founded by Josh Kushner and backed in part by OpenAI, is taking ADT private in an all-cash deal worth $7.6 billion. The offer values ADT at $10 a share, a 45.6% premium over its closing price two trading days earlier, and the stock jumped roughly 34% on the news.
ADT has spent the better part of a decade bouncing between public and private ownership, most recently under Apollo Global Management. Thrive Holdings partner Kareem Zaki framed the latest turn as a long-term bet rather than a flip, saying the firm plans to invest "with the capital and patience to invest over decades" and intends to build on ADT's foundation by "strengthening its technology and product capabilities."
That technology angle is the real story here. A private equity firm buying a security company is routine; a private equity firm with an OpenAI stake buying a security company, right as home security brands race to bolt AI monitoring onto every doorbell camera, is a bet on where the category is headed next.
Source: Yahoo Finance
Kyle Duford, Founder & Editor, BRNDWIRE. More from Kyle →
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