BUZZ - Thrive, owned by Josh Kushner, will acquire ADT for $7.6 billions, causing the stock price to surge

October 29 - ** Home security company ADT (ADT.N) shares surged 33.7% on Thursday to close at $9.91, marking their highest level since December 2022. This followed the company's announcement that it has agreed to be acquired in an all-cash transaction by Thrive Holdings, the venture capital firm led by Josh Kushner, in a deal valued at around $7.6 billion.

** ADT said (link) that Thrive will acquire the Boca Raton, Florida-based company for $10 per share, representing a 35% premium over Wednesday's closing price of $7.41.

** The enterprise value of the deal is $15.3 billion and is expected to close in the first quarter of 2027.

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

** Funding commitments for the transaction are fully provided by funds managed by affiliates of Apollo Global Management, Inc. APO.N

** Apollo took ADT public in 2018 at an offer price of $14 per share. In May 2026, with ADT shares trading around $7, the private equity firm sold its remaining stake in ADT (link)

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