Joshua Kushner's Thrive Holdings to buy security provider ADT for $7.6 billion
US investment firm Thrive Holdings has agreed to acquire home security provider ADT in an all-cash deal valued at $7.6 billion. The deal will take ADT private and is expected to close in the first quarter of 2027.
Thrive Holdings, a US company led by investor Joshua Kushner, is to acquire ADT, a provider of security services for homes and businesses. The deal is valued at $7.6 billion and will be paid entirely in cash. Once completed, ADT will cease to be a publicly traded company and become privately held. The transaction is expected to close in the first quarter of 2027. Bloomberg was the first to report on the agreement.
What Thrive Holdings is
Thrive Holdings was founded last year as an offshoot of Joshua Kushner's venture capital firm, Thrive Capital Management. TechCrunch has described it as a "private equity firm for AI": it buys "traditional" businesses, such as accounting and IT services firms, and applies artificial intelligence to their workflows. Joshua Kushner is the brother of Jared Kushner, son-in-law of US President Donald Trump.
ADT's business
ADT runs a standalone home security service, but it has also signed partnerships with major technology companies. These allow its technicians to sell and install Google Nest devices, as well as Apple's new lineup of smart home products.
ADT CEO Jim DeVries said in a press release that, with Thrive Holdings' long-term capital and technology expertise, ADT will gain new opportunities to accelerate innovation, improve the customer experience and bring greater peace of mind to more homes and businesses.
