OpenAI-backed Thrive Holdings is buying ADT in a $15.3 billion deal, with plans to bring AI to the home security business.
OpenAI-backed Thrive Holdings acquires ADT
TE TechCrunch 
Key takeaways
Thrive Holdings, backed by OpenAI, acquired ADT for $7.6 billion in equity, aiming to build a smart home security business.
- Thrive Holdings bought ADT for $7.6 billion in equity, with a total enterprise value of $15.3 billion.
- OpenAI provides AI models, tech, and engineers to Thrive's portfolio companies.
- The deal aims to develop AI-powered security products, with no specific details yet announced.
Summarised automatically by AI from the original article by TechCrunch. AI can make mistakes, so check the original for details.
Read the full story on TechCrunch You've read the opening, about 21 of 216 words. The full piece is published by TechCrunch.
Continue reading ↗ Story details
- Published
- By
- Julie Bort
- Section
- AI
- Length
- 216 words · about 1 min read
- Format
- Article
- Original
- techcrunch.com ↗
Topics
Related reporting
2 stories on this topic from 2 sources, oldest first.
- TechCrunch OpenAI-backed Thrive Holdings acquires ADT (this story)
