BUZZ - Thrive, owned by Josh Kushner, will acquire ADT for $7.6 billion, shares surge

October 29 - ** Home security company ADT (ADT.N) shares rose 33.7% on Thursday, closing at $9.91, the highest since December 2022. The company announced it had agreed to be acquired by Josh Kushner’s venture capital firm Thrive Holdings in an all-cash deal valued at about $7.6 billion.

** ADT stated (link) that Thrive will acquire the Boca Raton, Florida-based company at $10 per share, a 35% premium to Wednesday’s closing price of $7.41.

** The transaction gives it an enterprise value of $15.3 billion and is expected to close in the first quarter of 2027.

** Josh Kushner founded Thrive in 2009. His brother Jared is the son-in-law of former U.S. President Donald Trump.

** The financing commitment for this transaction is provided entirely by funds managed by affiliates of Apollo Global Management, Inc. (APO.N)

** Apollo took ADT public in 2018 at an offering price of $14 per share; in May 2026, when ADT’s stock was trading around $7, the private equity firm sold its remaining ADT shares (link)

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