OpenAI-backed Thrive Holdings acquires ADT

OpenAI-backed Thrive Holdings has acquired ADT in a $15.3 billion deal, with plans to bring AI to the home security business. Thrive Holdings, a holding company spinout from Thrive Capital, will pay $10 per share or $7.6 billion in equity for ADT. The deal will see ADT form the foundation of Thrive Holdings' smart home security business, with plans to invest in and release new AI-powered security products. ADT currently partners with Apple and Google, and the company will likely continue to do so. The acquisition follows a trend of AI-powered physical security, with Apple and Amazon recently entering the market with new smart home and security products.