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Thrive Holdings agrees to buy home security firm ADT

Published

Thrive Holdings will pay $10.00 per share in cash for ADT, a 45.6% premium to the unaffected closing price. The deal values ADT at $15.3 billion in enterprise value and will make the company private.

The all-cash deal values ADT at about $7.6 billion in equity value. ADT's Board of Directors unanimously approved it. After closing, ADT will form the foundation of the smart home security business of Thrive Holdings.

Funds managed by Apollo affiliates are financing the deal. Apollo was ADT's former owner and sold its remaining stake five months ago. The deal is set to close in 1Q27, subject to stockholder and regulatory approvals. The go-shop period ends on 28 November.

Thrive Capital, led by Josh Kushner, formed Thrive Holdings last year. Citi and Goldman Sachs advised ADT, and Evercore advised Thrive. One report said Thrive Holdings plans to bring AI to the business.

ADT said its data and privacy policies will remain unchanged and that no new data sharing will occur. Chairman, President and CEO Jim DeVries said the deal recognises the value built by more than 12,000 employees. ADT will not take questions on its third-quarter 2026 results call because of the deal.

Key facts

Who
Thrive Holdings; ADT (home security business being acquired); Apollo (financing the deal through affiliated funds; ADT's former owner, sold its…); Josh Kushner (head of Thrive Capital, which formed Thrive Holdings)
What
Thrive Holdings agreed to take ADT private in an all-cash deal at $10 per share, valuing ADT at about $7.6 billion in equity value, a nearly 46% premium over its Oct. 27 closing price. Funds managed by Apollo affiliates are financing the deal, and the deal is set to close in 1Q27 subject to stockholder and regulatory approvals.
When
29 October 2026
Status
Reported

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