Thrive Holdings Agrees to Buy ADT for $15.3 Billion

What exactly has Thrive Holdings agreed to acquire?

Under the definitive agreement announced on October 29, 2026, Thrive Holdings will acquire ADT, including its residential and small business security operations, technology and nationwide professional service network. The transaction values ADT at approximately $7.6 billion in equity and $15.3 billion in enterprise value, which includes debt.

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Why does the acquisition matter to Thrive Holdings?

ADT will become the foundation of Thrive Holdings' smart home security business, giving the buyer an established customer base, security expertise and nationwide service infrastructure that it can combine with long term capital and engineering capabilities. The companies have not disclosed quantified revenue targets, expected synergies or specific new AI powered security products.

What will ADT shareholders receive?

Shareholders will receive $10 in cash per share upon completion, representing a 45.6% premium to ADT's unaffected closing price of $6.87 on October 27, 2026, and a 52.1% premium to its 30 day volume weighted average price.

Could the acquisition affect ADT stock and its shareholders?

The $10 cash consideration establishes the contractual payment for shareholders if the transaction closes, rather than providing continued participation in ADT's future growth. Following completion, ADT will become privately held and its common stock will cease trading on the New York Stock Exchange.

How is the $15.3 billion acquisition financed?

Financing commitments have been provided solely by funds managed by affiliates of Apollo Global Management, and the agreement is not subject to a financing condition. The $15.3 billion enterprise value should not be confused with the approximately $7.6 billion equity consideration.

When could the ADT acquisition close?

Completion is expected in the first quarter of 2027, subject to ADT shareholder approval and US antitrust approval. ADT also has a 30 day go shop period through November 28, 2026, during which it can seek competing proposals, with a possible 10 day extension for qualifying proposals.