购置
OpenAI-Backed Thrive控股公司在15.3B全加什交易中收购ADT
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ADT股份有限公司和Thrive Holdings 宣布公司于2026年10月29日达成最终协议，根据该协议，Thrive Holdings公司将在一次全现金交易中收购安全和智能的家庭供应商。 根据协议，ADT的股本价值约为76亿美元，企业价值约为153亿美元。
ADT股票持有者在交易完成后将获得每股10美元的现金，ADT的董事会一致批准了协议。 公司认为，每股价格是ADT在2026年10月27日未受影响的收盘股价(6.87美元)的45.6%溢价，以及该日30天量加权平均股价的52.1%。 一旦交易结束，ADT将成为一家私人持有的公司，其共同股票将停止在纽约证券交易所交易；在此之前，ADT将继续独立运作。
融资和Go-Shop术语
阿波罗全球管理附属公司管理的资金是交易融资承诺的唯一提供者，交易没有融资条件。 公司预计交易将在2027年第一季度结束，但需遵守习惯性的关闭条件、ADT股东的批准以及美国反托拉斯的批准。
合并协议包括一个长达30天的上店窗口，该窗口于2026年11月28日纽约市时间晚上11点59分运行，在此期间，ADT及其财务顾问可以向第三方征求收购建议。 某些在初始阶段提交建议书的当事人可能获得10天的延期，ADT拥有终止兼并协议接受上级建议书的权利，但须符合协议的条款和条件。
ADT的财务顾问是花旗公司和高盛公司，Cravath、Swaine & Moore LLP担任法律顾问，Edelman Smithfield担任战略传播顾问。 Evercore是Thrive Holdings的独家财务顾问，Kirkland & Ellis LLP正担任其法律顾问。
Trive 控股ADT计划
Trive Holdings是一家长期拥有和经营企业的常设资本控股公司。 目前有超过75个跨越会计、信息技术服务和建筑环境的企业参与其中，包括会计领域的Vince和信息技术服务的Shield。 关闭后，ADT将成为Thrive Holdings智能家用安保业务的基础，称公司和Thrive Holdings的工程团队将与ADT的专业人士一起工作，以确定技术可以加强其产品和服务。
在自己的公告中，Thrive Holdings 称 ADT赢得了超过150年的客户信任，其全国性的安装和服务网络支持数百万个家庭的设备。 称公司新技术可以帮助切断虚假警报，给监测小组更多的信息通报，并更快地发现设备问题，以便更容易解决。
称 Jim DeVries)，他的总裁兼首席执行官。 Kareem Zaki是Thrive控股公司(称)的合伙人，该公司计划加强ADT的技术和产品能力，并拥有数十年的投资资本和耐心。
该公司还将维持称 ADT的数据保护和隐私政策不变，未经客户许可，不会出现新的客户数据共享。 Thrive Holdings 合伙人 Anuj Mehndirata 称公司致力于高度隐私和网络安全标准，以保护委托给ADT的信息客户。
OpenAI在Thrive控股公司的所有权
OpenAI 宣布于2025年12月1日表示，它已在Thrive Holdings拥有所有权，作为旨在加速企业AI收养的伙伴关系的一部分。 OpenAI 称将在Thrive Holdings公司内部安排研究、产品和工程团队，以提高速度、准确性和成本效益，同时加强服务质量，最初侧重于会计和信息技术服务，它称之为量大、规则驱动、工作流程繁重的功能。 OpenAI 称的作品意在创造一个可重复的模式，可以扩展到其他行业。
称 Joshua Kushner是Thrive Capital和Thrive控股公司的首席执行官兼创始人，OpenAI首席操作官Brad Lightcap 称伙伴关系旨在表明，如果在整个组织中迅速部署边境AI，将有可能实现什么目标。
排定的下一个步骤
ADT的第三季度2026年结果将在市场开放前于2026年11月3日发布，摘要分享于上午10时的ET会议电话；公司不会根据宣布交易对电话提问。 关于拟议的交易，会计和交易司打算向证券交易委员会提交相关材料，包括初步和确定形式的代理声明。
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Acquisitions
OpenAI-Backed Thrive Holdings to Acquire ADT in $15.3B All-Cash Deal
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ADT Inc. and Thrive Holdings announced a definitive agreement on October 29, 2026, under which Thrive Holdings will acquire the security and smart home provider in an all-cash transaction. ADT is valued at approximately $7.6 billion in equity value and $15.3 billion in enterprise value under the agreement.
ADT stockholders will receive $10.00 per share in cash when the transaction completes, and ADT’s Board of Directors unanimously approved the agreement. According to the companies, the per-share price is a 45.6% premium to ADT’s unaffected closing share price of $6.87 on October 27, 2026, and a 52.1% premium to the 30-day volume-weighted average share price through that date. Once the transaction closes, ADT will become a privately held company and its common stock will cease trading on the New York Stock Exchange; until then, ADT will continue to operate independently.
Financing and Go-Shop Terms
Funds managed by affiliates of Apollo Global Management are the sole providers of financing commitments for the transaction, and the deal carries no financing condition. The companies expect the transaction to close in the first quarter of 2027, subject to customary closing conditions, approval by ADT’s stockholders, and receipt of U.S. antitrust approval.
The merger agreement includes a 30-day go-shop window running through 11:59 p.m. New York City time on November 28, 2026, during which ADT and its financial advisors may solicit acquisition proposals from third parties. Certain parties that submit proposals during the initial period may receive a 10-day extension, and ADT holds the right to terminate the merger agreement to accept a superior proposal, subject to the agreement’s terms and conditions.
ADT’s financial advisors are Citi and Goldman Sachs & Co. LLC, with Cravath, Swaine & Moore LLP serving as legal counsel and Edelman Smithfield as strategic communications advisor. Evercore is the exclusive financial advisor to Thrive Holdings, and Kirkland & Ellis LLP is serving as its legal counsel.
Thrive Holdings’ Plans for ADT
Thrive Holdings is a permanent capital holding company that owns and operates businesses over a long-term horizon. More than 75 businesses across accounting, IT services and the built environment are currently part of it, including Current in accounting and Shield in IT services. Following the closing, ADT will form the foundation of Thrive Holdings’ smart home security business, the companies said, and Thrive Holdings’ engineering teams will work alongside ADT’s professionals to identify where technology can enhance its products and services.
In its own announcement, Thrive Holdings said ADT has earned customer trust over more than 150 years and that its nationwide installation and service network supports equipment in millions of homes. The firm said new technology could help cut false alarms, give monitoring teams more informative notifications, and spot equipment problems sooner so they are easier to resolve.
“ADT is pleased to enter into this transaction, which recognizes the value built by our more than 12,000 employees and delivers an attractive cash premium to our stockholders,” said Jim DeVries, ADT’s Chairman, President and Chief Executive Officer. Kareem Zaki, a partner at Thrive Holdings, said the firm plans to strengthen ADT’s technology and product capabilities and has the capital and patience to invest over decades.
The companies also said ADT’s data protection and privacy policies will stay in place unchanged, and that no new sharing of customer data will occur without customer permission. Thrive Holdings partner Anuj Mehndiratta said the firm is committed to high privacy and cybersecurity standards for protecting the information customers entrust to ADT.
OpenAI’s Ownership Stake in Thrive Holdings
OpenAI announced on December 1, 2025, that it had taken an ownership stake in Thrive Holdings as part of a partnership aimed at accelerating enterprise AI adoption. OpenAI said it would place research, product, and engineering teams inside Thrive Holdings’ companies to improve speed, accuracy, and cost efficiency while strengthening service quality, with an initial focus on accounting and IT services, which it described as high-volume, rules-driven, workflow-heavy functions. OpenAI said the work was intended to create a repeatable model that could expand across other industries.
“We are excited to extend our partnership with OpenAI to embed their frontier models, products, and services into sectors we believe have tremendous potential to benefit from technological innovation and adoption,” said Joshua Kushner, CEO and founder of Thrive Capital and Thrive Holdings, in that announcement. OpenAI Chief Operating Officer Brad Lightcap said the partnership was meant to show what is possible when frontier AI is deployed rapidly across entire organizations.
Scheduled Next Steps
ADT’s third quarter 2026 results will be issued on November 3, 2026, prior to market opening, with a summary shared on a 10 a.m. ET conference call; the company will not take questions on the call in light of the announced transaction. In connection with the proposed transaction, ADT intends to file relevant materials with the Securities and Exchange Commission, including a proxy statement in preliminary and definitive form.
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