Thrive Holdings acquired physical security provider ADT for $7.6 billion in stock, valuing the enterprise at $15.3 billion.
The acquisition positions ADT as the foundation for Thrive's smart home security operations, integrating technological capabilities across its portfolio.
Thrive Holdings is a company spun out of Josh Kushner's Thrive Capital and has OpenAI as a key partner and investor. Its goal is to manage businesses for the long term with the aim of renewing them through artificial intelligence. The group's portfolio includes more than 75 companies, to which OpenAI provides artificial intelligence models, technology and engineers.
The next plans
The companies did not announce specific new products they plan to launch, but said they are planning new investments. According to the plans, ADT will be the base for Thrive Holdings' smart home security business.
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