Thrive Holdings Agrees to Buy ADT in $7.6 Billion Equity Deal

ADT has agreed to be acquired by Thrive Holdings in an all-cash transaction that values the US home security provider's equity at about $7.6 billion and the business at approximately $15.3 billion including debt.

Under the agreement announced October 29, ADT shareholders would receive $10 per share. The offer is 45.6% above the company's unaffected October 27 closing share price of $6.87. The board has unanimously approved the deal, but shareholder approval, US antitrust clearance and other conditions remain outstanding.

The companies expect completion in the first quarter of 2027. Until then ADT will continue operating independently. If the transaction closes, its common stock will be delisted from the New York Stock Exchange and the business will become privately held.

Financing commitments are provided by funds managed by affiliates of Apollo Global Management. ADT may solicit competing offers until November 28 under a provision allowing it to consider a superior proposal, subject to the merger agreement. The proposed transaction is therefore not yet an irreversible sale.

Thrive Holdings says it plans to invest in ADT's engineering, security products and service capabilities. ADT says its existing customer privacy policies will remain unchanged and additional data sharing would require permission. These are commitments made in connection with the proposed acquisition, not proof of changes already completed.

ADT serves residential and small-business customers with monitored security, interactive services and connected-home products. The agreement would bring those operations under a permanent-capital owner if all closing requirements are satisfied.