From AI Insider · James Dargan · · 50s
OpenAI Backs Thrive Holdings' $15.3B ADT Acquisition
OpenAI-backed Thrive Holdings buys ADT for $15.3 billion to build AI home security.
In brief
OpenAI-backed Thrive Holdings buys ADT for $15.3 billion to build AI home security. Thrive Holdings acquires ADT for $15.3 billion to integrate AI into home security using existing partnerships with Apple and Google. Originally reported by AI Insider.
Thrive Holdings Acquires ADT
Thrive Holdings agreed to acquire ADT for $10 per share, or $7.6 billion in equity, in a deal with a total enterprise value of $15.3 billion.
Thrive's AI Strategy
Thrive Holdings, spun out of Josh Kushner’s venture firm Thrive Capital, plans to own companies long-term and revitalize them with AI.
AI Home Security Plan
ADT will serve as the foundation for Thrive Holdings’ smart home security business, leveraging partnerships with Apple and Google.
The main idea
Thrive Holdings acquires ADT for $15.3 billion to integrate AI into home security using existing partnerships with Apple and Google.
