Thrive Holdings has acquired physical security company ADT for $10 a share, or about $7.6 billion in equity, the companies announced Thursday. ADT said the deal has a total enterprise value of $15.3 billion.
Thrive Holdings is a private equity spinout of Josh Kushner’s venture capital firm, Thrive Capital. OpenAI is both a partner and an investor in Thrive Holdings.
Thrive Holdings says it holds more than 75 companies. Its aim is to own businesses for the long term and use AI to revitalize them. As a partner, OpenAI provides those companies with AI models, technology and staff known as forward-deployed engineers.
Neither ADT nor Thrive Holdings announced a specific AI-powered security product. The companies said they plan to invest and launch new products. “ADT will form the foundation of Thrive Holdings’ smart home security business,” their press release said.
Other tech companies are adding AI to home security
Other technology companies are also adding AI to home security. Apple has entered the field with a new line of smart home and security products developed with LG and Schneider Electric. Amazon has updated its smart home lineup, including AI-powered home cameras. Some startups offer AI dog robots as mobile security guards.
The companies’ stated next step is to invest in ADT and release new products. They have not said what those products will be.
