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OpenAI-backed Thrive Holdings acquires ADT
Thrive Holdings, the PE spin-out firm, has acquired physical security company ADT for $10 per share or about $7.6 billion in equity, the companies announced on Thursday.
AI Summary
Thrive Holdings announced it has acquired physical‑security firm ADT at $10 per share, valuing the equity component at roughly $7.6 billion. Including debt and other considerations, the total enterprise value of the transaction reaches $15.3 billion. Thrive Holdings is the private‑equity spin‑out of Josh Kushner’s venture firm Thrive Capital and lists OpenAI as a partner and investor. The firm says its strategy is to hold companies long‑term and revitalize them with artificial‑intelligence tools, and it currently owns more than 75 portfolio companies.
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