Thrive Acquiring ADT For $US15.3 Billion In Monster All Cash Transaction.
Thrive Acquiring ADT For $US15.3 Billion – ADT will be acquired by Josh Kushner’s Thrive Holdings in an all-cash transaction valuing the big US security company at approximately $7.6 billion in equity value and $15.3 billion in enterprise value.
ADT provides security, interactive and smart home services to residential and small business customers across the US and has a history of more than 150 years in the security alongside a huge network of security professionals.
Deal snapshot · all cashUS$15.3bnEnterprise value
US$7.6bnEquity value
45.6%Premium to unaffected
US$10.00 a share in cash against an unaffected close of US$6.87 on 27 October 2026. By SEN’s arithmetic the gap between enterprise and equity value is about US$7.7bn of net debt and other claims, and US$7.6bn at US$10.00 implies roughly 760 million shares outstanding.
Price per shareUnaffected closeNYSE · 27 Oct 2026$6.87
Thrive offerCash · board approved$10.00
12,000+ADT employees
150+Years in security
75+Businesses in Thrive Holdings
Q1 2027Expected close
Under the agreement, ADT stockholders will receive $10.00 per share in cash, representing a 45.6 per cent premium to ADT's unaffected closing share price of $6.87 on October 27, 2026. ADT's board has unanimously approved the transaction.
Following completion, ADT will become a privately held and its common stock will cease trading on the New York Stock Exchange. The transaction is expected to close in the first quarter of 2027, subject to customary closing conditions, including stockholder approval and US antitrust approval.
The acquisition will bring ADT's security network, products and customer base under the ownership of Thrive Holdings, a permanent capital holding company that invests in established businesses and develops technology capabilities within those businesses.
Thrive Holdings currently has more than 75 businesses across accounting, IT services and the built environment. Following completion of the transaction, ADT will form the foundation of its smart home security business.
Thrive said it intends to support ADT's management through continued investment in its people, products and services. Its engineering teams will work with ADT personnel to identify opportunities to use technology to develop products and services and improve the way the company supports customers.
Critical pathFrom go-shop to delistingThe dates the announcement gives, in order. Everything after the go-shop depends on approvals the parties don’t control.27 Oct 2026Unaffected close: US$6.87The reference price for the 45.6 per cent premium.
SignedMerger agreement; board approves unanimouslyUS$10.00 a share, all cash. ADT keeps operating independently until completion.
To 28 Nov 202630-day go-shopADT may solicit alternative proposals. A 10-day extension is available for certain parties, which would run to about 8 December.–left in the go-shop
PendingStockholder approvalA vote of ADT stockholders is a closing condition; no meeting date is given.
PendingUS antitrust approvalNamed as a closing condition alongside other customary conditions.
Q1 2027Expected completionADT becomes privately held; common stock ceases trading on the NYSE.
After closeADT becomes the foundation of Thrive’s smart home security businessThrive engineering teams to work with ADT personnel on products, services and customer support.
"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, Chairman, President and Chief Executive Officer of ADT.
"Our leadership in security is based on a legacy of trust, longstanding customer relationships and the dedication of our employees. With Thrive Holdings’ long-term capital and technology expertise, ADT will gain new opportunities to accelerate innovation, enhance the customer experience and bring greater peace of mind to even more homes and businesses."
Meanwhile, Thrive Holdings partner Kareem Zaki said the company intends to build on ADT's existing business while investing in technology and product development.
"ADT has spent generations showing up for people when it matters most," Zaki said. "We intend to build on that foundation by strengthening ADT’s technology and product capabilities, with the capital and patience to invest over decades.
“Our ambition is to help ADT’s teams better serve customers and offer a seamless service with more actionable information for the professionals responding."
Thrive says its permanent capital structure will allow ADT to invest over a longer timeframe than under conventional ownership, including in next-generation products, technology and engineering capabilities. The company has also committed to maintaining ADT's existing data and privacy policies. No new data sharing will occur without customer permission.
ADT will continue to operate independently until completion of the transaction. The merger agreement also includes a 30-day go-shop period, running until November 28, 2026, during which ADT may solicit alternative acquisition proposals, with a potential 10-day extension for certain parties.
Ownership changeWhat changes, what the buyer says stays, and who the buyer isSorted from the announcement. The middle column is Thrive’s and ADT’s stated intent, not a binding undertaking.What changesOwner: ADT passes to Thrive Holdings, a permanent-capital holding companyListing: common stock ceases trading on the NYSE; ADT becomes privately heldStockholders: cashed out at US$10.00 a shareRole: ADT becomes the foundation of Thrive’s smart home security businessEngineering: Thrive teams work with ADT personnel on products, services and support
What they say staysADT management, supported by continued investment in people, products and servicesIndependent operation until the transaction completesExisting data and privacy policies; no new data sharing without customer permissionThe 12,000-plus workforce DeVries credits with the value builtCustomer relationships and the security professional network
The buyerThrive Holdings — founded by Josh Kushner; partner Kareem Zaki speaking for the dealPermanent capital: invests in established businesses and builds technology inside themMore than 75 businesses across accounting, IT services and the built environmentPitch to ADT: capital and patience to invest over decades, not a conventional ownership cycleNo prior security business is named; ADT would be the first
You can learn more about Thrive Holdings here or read more SEN news here.
Further readingFollow the deal through to Q1 2027Thrive Holdings publishes its portfolio and investment approach on its own site. SEN will follow the go-shop, the stockholder vote and the antitrust review as they land. Questions & AnswersThrive and ADT: what readers are askingHow much is Thrive paying for ADT?
US$10.00 a share in cash, which values ADT at about US$7.6 billion in equity and US$15.3 billion in enterprise value. The offer is a 45.6 per cent premium to ADT’s unaffected close of US$6.87 on 27 October 2026.
Why are the equity value and the enterprise value so different?
Enterprise value adds net debt and similar claims to the equity value. The announcement doesn’t give a net-debt figure; the US$7.7 billion gap is simply the difference between the two stated numbers, and it is SEN’s arithmetic, not a reported figure.
Who is Thrive Holdings?
A permanent capital holding company founded by Josh Kushner that invests in established businesses and develops technology capabilities inside them. It says it has more than 75 businesses across accounting, IT services and the built environment; ADT would become the foundation of its smart home security business.
When will the deal close?
The parties expect completion in the first quarter of 2027, subject to ADT stockholder approval, US antitrust approval and other customary conditions. ADT keeps operating independently until then.
What is the go-shop period?
A 30-day window to 28 November 2026 in which ADT may actively solicit alternative acquisition proposals, with a 10-day extension available for certain parties. It is a standard way for a board to test whether a higher offer exists after signing.
Will ADT stay listed on the NYSE?
No. On completion ADT becomes privately held and its common stock ceases trading on the New York Stock Exchange. Stockholders receive the cash consideration instead.
What happens to ADT customer data under Thrive?
Thrive says it has committed to maintaining ADT’s existing data and privacy policies and that no new data sharing will occur without customer permission. The announcement gives no further detail, so the specifics would sit with ADT’s published policies.
Does this affect ADT customers or dealers outside the US?
The announcement describes ADT as serving residential and small business customers across the US and says nothing about other markets. Anyone with an ADT relationship elsewhere should confirm directly with ADT.
“Thrive Acquiring ADT For $US15.3 Billion In Monster All Cash Transaction.”
