OpenAI-backed Thrive Holdings acquires ADT
- Who
- Thrive Holdings
- What
- acquired ADT
- When
- Quote
Thrive Holdings has acquired physical security company ADT for $10 per share or about $7.6 billion in equity, the companies announced on Thursday.
What happened
Thrive Holdings has acquired ADT for $10 per share, or about $7.6 billion in equity, the companies announced Thursday; ADT put the total enterprise value at $15.3 billion. OpenAI is both an investor and a partner, supplying models, technology, and engineers to Thrive’s companies. ADT will anchor Thrive’s smart home security business, although neither company specified which new AI-powered security products it plans to release.
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See the full storyOpenAI-Backed Thrive Holdings Acquires ADT in $7.6 Billion Equity DealThe story so far
Thrive Holdings has acquired home security company ADT for $10 per share, valuing its equity at about $7.6 billion, the companies announced. ADT put the deal’s total enterprise value at $15.3 billion and will anchor Thrive’s smart home security business. OpenAI is an investor in and partner to Thrive, supplying models, technology, and engineers to its companies.
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