OpenAI-backed Thrive buys ADT for $7.6B to boost AI security

thrive holdings, a private equity firm spun out from thrive capital and backed by openai, acquired physical security company adt for $10 per share, totaling $7.6 billion in equity. the deal has a total enterprise value of $15.3 billion. thrive holdings currently holds over 75 companies and uses ai models and tech from openai to revitalize them. adt will form the foundation of thrive holdings' smart home security business, with plans to invest in and release new ai-powered security products. this acquisition impacts the smart home security market, which is seeing increased interest in ai-powered physical security.