Joshua Kushner’s Thrive Holdings has agreed to buy ADT for $10 per share in an all-cash transaction valued at $7.6 billion, a deal announced on Thursday that will take the home security company private.
The transaction has a total enterprise value of $15.3 billion and is expected to close in the first quarter of 2027.
ADT will become the foundation of Thrive Holdings’ smart home security business.
Kushner, the founder and leader of Thrive Holdings, is a venture capitalist and the brother of Jared Kushner, President Donald Trump’s son-in-law.
Thrive Holdings was founded last year as a holding company spinout from Kushner’s venture capital firm, Thrive Capital Management.
OpenAI became a partner and investor in Thrive Holdings, whose stated mission is to own companies for the long term and revitalise them with artificial intelligence.
The holding company holds over 75 companies. OpenAI provides its companies with AI models, technology and forward-deployed engineers.
ADT operates a standalone home security service. Its partnerships with Google allow technicians to sell and install Google Nest devices, while its Apple partnership covers installation of Apple’s smart home products.
Jim DeVries, ADT’s chief executive, said Thrive Holdings’ long-term capital and technology expertise would help ADT accelerate innovation and improve the customer experience.
The deal moves ADT from public ownership to private control under a newly formed, AI-backed holding company. Its terms set out the price and timetable, while the effect on ADT’s customers, services and workforce has yet to be detailed.
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