Thrive Holdings to Buy ADT at $10 a Share in $7.6 Billion Equity Deal

ADT Inc. signed a definitive agreement to be acquired by Thrive Holdings for $10 a share in an all-cash deal valuing its equity at about $7.6 billion, with shares up 34.08% at 1:56 p.m. ET Thursday, Oct. 29.

ADT shares were at $9.94 at that time. At $10 per share, the bid is 45.6% higher than ADT’s $6.87 closing price on Oct. 27 and 52.1% above its volume-weighted average share price over the prior 30 days. The deal’s enterprise value is $15.3 billion.

ADT’s board unanimously approved the agreement. The companies expect the deal to close in the first quarter of 2027, subject to stockholder approval and U.S. antitrust clearance. Funds managed by affiliates of Apollo Global Management committed the financing, and the agreement has no financing condition.

ADT provides security and smart-home services to U.S. residential and small-business customers. Thrive plans to build its smart-home security business around ADT. “We intend to build on that foundation by strengthening ADT’s technology and product capabilities,” said Kareem Zaki, a partner at Thrive Holdings.

ADT may solicit competing proposals until 11:59 p.m. ET Nov. 28, with a possible 10-day extension for some bidders.