Summary
The deal, which will take ADT private, is expected to close next year. The Joshua Kushner-led Thrive Holdings is acquiring ADT in an all-cash deal val…
The deal, which will take ADT private, is expected to close next year.
The Joshua Kushner-led Thrive Holdings is acquiring ADT in an all-cash deal valued at $7.6 billion. The deal is expected to close in the first quarter of 2027 and will take ADT private, as reported earlier by Bloomberg.
Joshua Kushner is the brother of President Donald Trump’s son-in-law, Jared Kushner. Thrive Holdings was founded last year, serving as an offshoot of Joshua Kushner’s venture capital firm Thrive Capital Management. TechCrunch likens Thrive Holdings to a “private equity firm for AI,” as it purchases “traditional” businesses, like accounting and IT services, and applies AI to their workflows.
Though ADT operates a standalone home security service, it has struck partnerships with major tech companies that allow its technicians to sell and install Google Nest devices, as well as Apple’s new lineup of smart home products.
“With Thrive Holdings’ long-term capital and technology expertise, ADT will gain new opportunities to accelerate innovation, enhance the customer experience and bring greater peace of mind to even more homes and businesses,” ADT CEO Jim DeVries says in the press release.
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Source: The Verge
