ADT to be acquired by Thrive Holdings in $15.3 billion transaction
ADT and Thrive Holdings announced a definitive agreement under which Thrive Holdings will acquire ADT in an all-cash transaction. The agreement values ADT at approximately $7.6 billion in equity value and $15.3 billion in enterprise value. ADT has around $7.78 billion in debt.
Under the terms of the agreement, which ADT’s Board of Directors unanimously approved, ADT stockholders will receive $10 per share in cash upon completion. The per share price represents a premium of 45.6% to ADT’s unaffected closing share price on October 27, 2026, and 52.1% to its 30-day volume-weighted average share price ending on October 27, 2026.
The transaction is expected to close in the first quarter of 2027, subject to customary closing conditions.
In 2022, State Farm invested $1.2 billion in ADT at an implied equity valuation of $8 billion.
Thrive Holdings intends to support ADT’s management in pursuing long-term growth through continued investment in the company’s people, products and services. Thrive Holdings’ engineering teams will work alongside ADT’s professionals to identify opportunities for technology to enhance the company’s products and services and help its teams support customers more effectively.
“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. 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.” – Jim DeVries, Chairman, President and Chief Executive Officer of ADT.
“ADT has spent generations showing up for people when it matters most. 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.” – Kareem Zaki, Partner at Thrive Holdings.
