Thrive Holdings agrees to acquire ADT at US$10 a share
The offer values the US home security company’s equity at about US$7.6 billion, with an enterprise value of US$15.3 billion.
US home security company ADT has accepted a cash takeover offer from Thrive Holdings at US$10 a share, the companies announced. Completion is expected in the first quarter of 2027, subject to approval by shareholders and US antitrust regulators.
The companies put the offer’s premium at 45.6% relative to ADT’s closing price of US$6.87 on 27 October. The board’s decision was unanimous. Following the announcement, ADT’s stock climbed 34%, according to The Information.
Funds under the management of Apollo Global Management affiliates are supplying the full financing. Axios reported that Apollo, a former owner, took ADT private in 2016 and returned the company to the New York Stock Exchange in 2018.
ADT has until 28 November to pursue better offers; certain bidders could receive an additional 10 days. Completion of the takeover would end trading in ADT shares.
Created by Joshua Kushner’s Thrive Capital, Thrive Holdings owns more than 75 businesses. ADT is intended to form the foundation of its smart home security business. TechCrunch reported that OpenAI invests in Thrive Holdings and provides its businesses with AI models and engineers.
Thrive said technology could reduce false alarms, provide more informative alerts and detect faulty equipment sooner. No new products have been announced by either company. The companies said existing ADT privacy and data policies would remain unchanged, and any new sharing of data would need customers’ permission.
