Thrive Holdings acquired physical security company ADT for $10 per share, representing about $7.6 billion in equity and a total enterprise value of $15.3 billion, according to an announcement made on Thursday. Thrive Holdings is a private equity spinout from Josh Kushner's venture capital firm Thrive Capital and counts OpenAI as both a partner and an investor. The firm's stated mission is to hold companies long-term while revitalizing them through artificial intelligence, currently maintaining a portfolio of over 75 companies.
As part of their partnership, OpenAI supplies AI models, technology, and forward-deployed engineers to support Thrive's portfolio companies. While ADT and Thrive did not immediately announce specific new products, they stated plans to invest in and release new offerings, designating ADT as the foundation of Thrive Holdings' smart home security business. This acquisition aligns with a broader industry trend toward AI-powered physical security, arriving alongside new smart home and security product lines from companies like Apple and Amazon.
This acquisition matters because it bridges traditional physical security with advanced artificial intelligence, leveraging OpenAI's technology to reshape the smart home security market.