The Pulse
Thrive Holdings agrees to buy ADT for $15.3 billion
ADT agreed to a $10-per-share cash acquisition by Thrive Holdings, valuing the security company at $15.3 billion including debt. The deal still needs shareholder and U.S. antitrust approval, and ADT may seek competing offers through Novembe
AI.info Team · Written with AI · fact-checked ·
“ADT is pleased to enter into this transaction, which recognizes the value built by our more than 12,000 employees and delivers an attractive cash premium to our stockholders,”
Jim DeVries, Chairman, President and Chief Executive Officer of ADT
ADT CEO Jim DeVries framed the proposed sale as a payout to shareholders and recognition of the company’s workforce. On October 29, ADT announced an agreement to be acquired by Thrive Holdings in an all-cash transaction that values the company at about $7.6 billion in equity and $15.3 billion in enterprise value.
ADT’s $10 offer is not a $15.3 billion equity price
ADT shareholders would receive $10 per share when the transaction closes. The offer represents a 45.6% premium to ADT’s unaffected closing price of $6.87 on October 27, and a 52.1% premium to its 30-day volume-weighted average share price through that date.
The $15.3 billion figure includes the company’s debt; it is the transaction’s enterprise value, not the cash amount going to shareholders. ADT puts the equity value at approximately $7.6 billion. The company’s board unanimously approved the agreement.
Thrive brings a technology plan, not a named security product
Thrive Holdings describes itself as a permanent-capital holding company that invests in established businesses and develops their capabilities through technology. ADT says the buyer’s engineering teams will work with its employees to identify ways technology can improve products and services. The announcement names no specific new AI-powered security product.
OpenAI is an investor and partner in Thrive Holdings, not the named buyer in the ADT agreement. OpenAI announced the partnership in December 2025, saying it would take an ownership stake in Thrive Holdings and work with the company to apply AI across its businesses. ADT’s announcement does not specify a direct role for OpenAI in this acquisition or in ADT’s planned technology work.
Shareholders and regulators still have to approve the deal
The companies expect the transaction to close in the first quarter of 2027, subject to customary conditions including ADT shareholder approval and U.S. antitrust approval. ADT says the deal is not subject to a financing condition; financing commitments come solely from funds managed by affiliates of Apollo Global Management.
The agreement gives ADT a 30-day go-shop period to seek other offers, ending at 11:59 p.m. New York City time on November 28, 2026. Some parties that submit proposals during that period may qualify for a 10-day extension. ADT can terminate the agreement to accept a superior proposal under the agreement’s terms, but the company says there is no assurance the process will produce one.
ADT stays independent until closing
ADT says it will continue operating independently while the transaction remains pending. If the deal closes, it will become privately held and its common stock will stop trading on the New York Stock Exchange. The company also says its data-protection and privacy policies will remain unchanged and that it will not share customer data without permission.
ADT plans to issue its third-quarter 2026 results before the market opens on November 3 and hold a 10 a.m. ET conference call. The company says it will not take questions on that call because of the announced transaction.