Leading U.S. security and smart home solutions provider ADT Inc. (NYSE: ADT) has entered into a definitive merger agreement to be acquired by permanent capital firm Thrive Holdings in an all-cash transaction valued at approximately $15.3 billion in enterprise value and $7.6 billion in equity value.
Under the terms of the agreement, which was unanimously approved by ADT’s Board of Directors, ADT stockholders will receive $10.00 per share in cash upon closing. The purchase price represents a 45.6% premium over ADT’s unaffected closing price of $6.87 on October 27, 2026.
Following the completion of the transaction, ADT will operate as a privately held entity forming the core of Thrive Holdings’ smart home security business.
Key Deal Structure & Strategic Highlights:
- Go-Shop Period: ADT is permitted to actively solicit alternative acquisition proposals from third parties through November 28, 2026, with a potential 10-day extension for qualifying bidders.
- Financing & Closing Timeline: Sole financing commitments for the transaction are provided by funds managed by affiliates of Apollo Global Management. The acquisition is expected to close in Q1 2027, subject to ADT stockholder approval and regulatory clearances.
- Advisors Involved: Citi and Goldman Sachs & Co. LLC served as financial advisors to ADT, with Cravath, Swaine & Moore LLP providing legal counsel. Evercore acted as exclusive financial advisor to Thrive Holdings, with Kirkland & Ellis LLP serving as legal counsel.
“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,” said Jim DeVries, Chairman, President and CEO of ADT. “With Thrive Holdings’ long-term capital and technology expertise, ADT will gain new opportunities to accelerate innovation.”
“We intend to build on ADT’s foundation by strengthening its technology and product capabilities, with the capital and patience to invest over decades,” added Kareem Zaki, Partner at Thrive Holdings.
