Home security provider ADT Inc. has agreed to be acquired and taken private by Thrive Holdings in an all-cash deal valued at $7.6 billion in equity and $15.3 billion including debt. Stockholders will receive $10 per share under the agreement announced on October 29, 2026.
ADT shares surged roughly 34% to $9.93 following the announcement, putting the security provider on pace for its highest close since August 2021. The transaction represents a 45.6% premium over ADT’s closing stock price of $6.87 on October 27, 2026, before acquisition talks surfaced. The buyout is expected to close in the first quarter of 2027, pending stockholder approval and U.S. antitrust clearance.
Thrive Holdings–ADT $15.3B acquisition (OpenAI-backed)OpenAI-backed Thrive Holdings has agreed to buy ADT in an all-cash deal valuing the U.S. home-security company at about $7.6 billion in equity and $15.3 billion in enterprise value. Stockholders get $10.00 per share, a…
Thrive Holdings Backs the $15.3 Billion Deal With OpenAI Partnership
Thrive Holdings is a permanent capital holding company founded by Josh Kushner that currently operates more than 75 businesses across accounting, IT services, and the built environment. OpenAI took an ownership stake in Thrive Holdings on December 1, 2025, establishing a partnership designed to accelerate enterprise AI adoption by embedding frontier models and engineering teams into Thrive’s companies. Funds managed by affiliates of Apollo Global Management, Inc. are providing all of the financing for the transaction, with no financing condition attached to the agreement.
ADT has spent generations showing up for people when it matters most, We intend to build on that foundation by strengthening ADT’s technology and product capabilities, with the capital and patience to invest over decades. Our ambition is to help ADT’s teams better serve customers and offer a seamless service with more actionable information for the professionals responding.
Kareem Zaki, Thrive Holdings partner
Thrive Holdings partner Anuj Mehndiratta noted in the joint announcement that protecting customers’ homes also means protecting their data, emphasizing the firm’s commitment to high privacy and cybersecurity standards. ADT confirmed that its data protection and privacy policies will remain in place unchanged, with no new sharing of customer data to occur without customer permission. The 152-year-old security giant serves more than six million customers and maintains roughly one-third of the installed base for security systems, according to data cited from Parks Associates.
THRIVE HOLDINGS AGREES TO TAKE ADT $ADT PRIVATE IN A $15.3 BILLION DEALThe permanent-capital holding company will pay $10 a share in cash, 45.6% above ADT's unaffected $6.87 close on Oct. 27, for an equity value near $7.6 billion, per the companies. pic.twitter.com/mQq7Kaoc4T
Apollo Returns to Buy ADT After Public Market Run
The buyout brings ADT full circle with Apollo Global Management. The private equity firm built the modern iteration of ADT, and took it public in a January 2018 initial public offering priced at $14 per share.
Apollo unwound its position over subsequent years, selling its remaining shares in May 2026 when the stock traded near $7. State Farm became ADT’s largest shareholder after Apollo’s exit.
During its years under public ownership, ADT shed its commercial operations by selling its multifamily business-to-business division to Everon for $55 million in cash. The company forged a major strategic partnership with Google—which took a roughly 6% equity stake in 2020—that yielded the self-installed Google Nest and ADT monitoring system launched in 2023.
ADT acquired Origin Wireless earlier in the year to incorporate AI-powered motion-sensing technology capable of detecting human presence without cameras, audio, or wearables into its product line starting in 2027. ADT has also been migrating its core workloads to Google Cloud and Oracle AI Database as part of its technology overhaul.
Today, we are announcing an agreement to acquire ADT.Home security has the qualities we look for in the businesses we own: an essential service built on specialist expertise and earned trust.We see an opportunity to build on that foundation for decades, investing in its…
Shareholders Face Delisting Prior to the 2027 Closing
ADT shares will be delisted from the New York Stock Exchange upon completion in early 2027 if the deal proceeds without a rival bidder. Prior to closing, ADT may pay no dividends without the buyer’s consent, and options priced at the offer or above are cancelled with no payment.
| Deal Metric | Figure |
|---|---|
| Cash Consideration Per Share | $10.00 |
| Equity Value | ~$7.6 billion |
| Enterprise Value (Including Debt) | ~$15.3 billion |
| Premium to Unaffected Oct. 27 Close ($6.87) | 45.6% |
| Expected Closing Date | Q1 2027 |
ADT leadership noted that the agreement values the company’s workforce of more than 12,000 employees while rewarding stockholders with an attractive cash exit.
ADT is pleased to enter into this transaction, which recognizes the value built by our more than 12,000 employees and delivers an attractive cash premium to our stockholders.
Jim DeVries, ADT chairman, president and chief executive officer
Apollo priced its January 2018 initial public offering at $14 per share.
Thrive Holdings is acquiring ADT, the home security systems company, for $15.3 Billion.Thrive Holdings is a permanent capital HoldCo and financing commitments are being solely provided by Apollo Global Management. pic.twitter.com/XbVciX7lY8