Thrive Holdings to Take ADT Private in $15.3 Billion All-Cash Deal at $10 Per Share

ADT agreed on October 29 to be acquired by Thrive Holdings, the investment firm co-founded by Joshua Kushner, in a transaction valued at $15.3 billion, with shareholders receiving $10 per share in cash. The deal assigns $7.6 billion in equity value to ADT, with the remainder reflecting assumed debt and other liabilities. Thrive Holdings framed the acquisition as a long-term bet on a brand with more than 150 years of history in consumer trust and home safety, with co-founder Kareem Zaki citing those qualities as central to the rationale.

ADT shares surged 33.40% on the news, adding approximately $1.83 billion in market capitalization in a single session. The jump also drove a spike in unusual options activity and elevated implied volatility across ADT contracts. The broader market fell that day, with the S&P 500 down 0.31% and the Nasdaq sliding 1.38%, making ADT one of the standout performers of the session.