OpenAI-backed Thrive Holdings acquires ADT
Thrive Holdings has acquired physical security company ADT for $10 per share, valuing the equity at approximately $7.6 billion and total enterprise value at $15.3 billion. Thrive Holdings, a holding company spinout of Thrive Capital backed by OpenAI, plans to use ADT as the foundation of its new smart home security business. OpenAI will supply AI models, technology, and forward-deployed engineers to support the portfolio companies. Open article →
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