Joshua Kushner’s Thrive Holdings is acquiring ADT for $7.6 billion

Thrive Holdings, led by Joshua Kushner, is acquiring ADT in an all-cash deal worth $7.6 billion. The deal is expected to close in the first quarter of 2027 and will take ADT private. Thrive Holdings, a venture capital firm that purchases and applies AI to traditional businesses, was founded last year as an offshoot of Thrive Capital Management. ADT, a home security service, has partnerships with Google and Apple to sell and install their smart home products. ADT CEO Jim DeVries says the acquisition will bring new opportunities for innovation and enhanced customer experience. Thrive Holdings is akin to a private equity firm for AI, purchasing and applying AI to businesses such as accounting and IT services. Thrive Holdings was founded by Joshua Kushner, brother of Jared Kushner, President Donald Trump's son-in-law.