Thrive Holdings to acquire ADT in $15.3 billion deal

The transaction is structured as an all-cash acquisition, with ADT stockholders set to receive $10 per share when it closes.[1] ADT says the offer represents a 45.6% premium to its unaffected closing share price on October 27, 2026, and a 52.1% premium to its 30-day volume-weighted average share price through that date.[1] The company’s board unanimously approved the agreement.[1] ADT says the deal values it at approximately $7.6 billion in equity and $15.3 billion in enterprise value.[1]

The companies expect the transaction to close in the first quarter of 2027, subject to approval by ADT stockholders and U.S. antitrust approval.[1] ADT says the agreement is not subject to a financing condition and that financing commitments were provided solely by funds managed by Apollo Global Management affiliates.[1] ADT may solicit proposals from third parties through November 28, 2026, during a 30-day period.[1] Until closing, ADT will continue operating independently; after completion, it will be privately held and its common stock will stop trading on the New York Stock Exchange.[1]

Thrive Holdings says ADT will form the foundation of its smart-home security business after the deal closes.[1] It says its engineering teams will work with ADT professionals to identify technology improvements to ADT’s products and services, and that it intends to strengthen the company’s technology and product capabilities.[1] Thrive says technology could reduce false alarms and make security notifications more informative.[2] OpenAI says it took an ownership stake in Thrive Holdings to accelerate enterprise AI adoption; TechCrunch reports that OpenAI provides Thrive’s companies with AI models, technology and forward-deployed engineers.[4][3]

TechCrunch reported that neither ADT nor Thrive had announced specific new AI-powered security products.[3] The proposed acquisition therefore does not, on the evidence available, establish what AI features ADT customers might receive or when they might arrive. ADT says its data and privacy policies will remain unchanged, and that no new data sharing will occur without customer permission.[1] ADT describes itself as a U.S. provider of security, interactive and smart-home solutions for residential and small-business customers.[1] It says its value was built by more than 12,000 employees and that it has more than 150 years of security experience.[1]