Joshua Kushner's Thrive Holdings agrees to acquire ADT for $7.6 billion in cash
ADT holders would get $10.00 a share in cash. The deal is expected to close in the first quarter of 2027, and ADT can seek rival offers until Nov. 28.
By Marcus Rodriguez ·
Why it matters: An agreed take-private of a household security name, at $15.3 billion in enterprise value and backed by Apollo financing, with a go-shop that could still draw a rival bid.
For information only, not investment advice. Prices delayed.
Tickers: ADT
ADT ($ADT) has agreed to be acquired by Thrive Holdings for $10.00 a share in cash, valuing the home-security company at about $7.6 billion in equity and $15.3 billion in enterprise value, the companies said Thursday. ADT's board approved the deal unanimously.
Thrive Holdings was founded last year as an offshoot of Joshua Kushner's venture firm Thrive Capital Management, The Verge reported. Kushner is the brother of Jared Kushner, President Donald Trump's son-in-law. ADT would become the foundation of its smart home security business.
The premium depends on the starting point. The companies put it at 45.6% over ADT's unaffected Oct. 27 close and 52.1% over its 30-day volume-weighted average price. Measured against Wednesday's close, it's 35%, Reuters reported in a French-language version of its story.
Financing commitments come solely from funds managed by affiliates of Apollo Global Management, and the deal has no financing condition. Apollo took ADT public in 2018 and sold its remaining stake in May 2026, according to Reuters.
Closing is expected in the first quarter of 2027, pending an ADT shareholder vote and US antitrust approval. Until Nov. 28, ADT can solicit rival offers under a 30-day go-shop, with a possible 10-day extension. After closing, ADT would go private and its stock would stop trading on the NYSE. The companies say ADT's data and privacy policies won't change.
Thrive Holdings partner Kareem Zaki said of ADT: "We intend to build on that foundation by strengthening ADT’s technology and product capabilities, with the capital and patience to invest over decades."
Sources
Tags: mergers-acquisitions · retail-consumer