Thrive Holdings, a private-equity spin-out, announced on Thursday that it will acquire physical security company ADT for $10 per share, equal to roughly $7.6 billion in equity value. According to ADT, the deal’s total enterprise value is $15.3 billion.
Thrive Holdings is the spin-out from Josh Kushner’s venture capital firm Thrive Capital. The company said it counts OpenAI both as a partner and an investor. Thrive’s stated mission is to hold companies long-term and revitalize them using artificial intelligence. Thrive also said it currently holds more than 75 companies in its portfolio.
As part of the partnership, OpenAI will provide AI models, technology and personnel described as “forward-deployed engineers” who work directly with Thrive’s portfolio companies. Neither ADT nor Thrive disclosed specific new AI-powered security products they plan to launch; the companies said only that they will invest in and release new products. The press release stated, “ADT will form the foundation of Thrive Holdings’ smart home security business.”
The move comes amid growing momentum for AI-enabled physical security. Apple recently entered the market with a line of smart home and home security products developed with LG and Schneider Electric. Amazon has updated its smart home lineup to include new AI-powered home cameras. Some startups are also experimenting with AI-equipped mobile “dog” robots intended for patrolling and guarding.
In short, the acquisition and OpenAI collaboration signal a push to bring traditional physical security services into the AI era, but concrete product plans and further transaction details have not been released.
