Direct answer: ADT is going private. On October 29, 2026, ADT agreed to be acquired by Thrive Holdings in an all-cash deal worth about $7.6 billion in equity and $15.3 billion including debt, at $10.00 per share. If the deal closes as expected in the first quarter of 2027, ADT will leave the New York Stock Exchange, but existing customers do not need to do anything right now: contracts, monitoring and privacy policies stay in place while the deal is pending.
For a company that has protected American homes for more than 150 years, this is a major turning point. It is also ADT’s third ownership change since 2012, and the buyer is different from a typical private equity firm. Thrive Holdings is built to hold companies for the long term, and it plans to make ADT the foundation of a new smart home security business, with backing from OpenAI as a technology partner. Here is what the deal actually includes, what it means for customers and shareholders, and what to watch next.
What ADT and Thrive Holdings announced
ADT Inc. and Thrive Holdings announced a definitive agreement on October 29, 2026, under which Thrive Holdings will acquire all outstanding ADT shares for $10.00 per share in cash. The price represents a 45.6 percent premium to ADT’s unaffected closing share price of $6.87 on October 27, 2026, and a 52.1 percent premium to its 30-day volume-weighted average price ending the same day.
ADT’s board of directors unanimously approved the deal. Funds managed by affiliates of Apollo Global Management are supplying the financing, and the transaction carries no financing condition. Apollo previously owned ADT through a 2016 leveraged buyout, so this is a familiar name returning to the company’s story in a new role.
Once the deal closes, ADT will become a privately held company and its shares will stop trading on the New York Stock Exchange. The companies expect closing in the first quarter of 2027, subject to ADT stockholder approval and U.S. antitrust clearance.
The deal in numbers
- Price: $10.00 per share, all cash
- Equity value: about $7.6 billion
- Enterprise value: about $15.3 billion, including debt
- Premium: 45.6 percent over the October 27, 2026 close of $6.87
- Customers: about 6.1 million residential and small business customers
- Expected close: first quarter of 2027
- Go-shop deadline: November 28, 2026, during which ADT can seek a better offer
ADT shares jumped about 34 percent on October 29 after the announcement, but still traded below the $10 offer price, a sign the market is weighing the odds of closing and the chance of a rival bid.
Who is Thrive Holdings
Thrive Holdings is a permanent capital holding company created by Thrive Capital, the venture firm founded by Josh Kushner. Unlike a traditional private equity fund, it does not operate on a five-to-seven-year clock to buy, improve and sell a company. Its stated model is to buy established businesses, hold them for decades, and invest in their technology and people over that longer horizon.
Thrive Holdings already owns more than 75 businesses across accounting, IT services and the built environment. ADT will become the foundation of its smart home security business. The company has positioned OpenAI as a technology partner that supplies AI models and engineering support to its portfolio companies, though the announcement named no specific AI-powered ADT product, feature or release date.
That distinction matters. A buyer planning to hold ADT for decades has different incentives from one planning a quick resale: it can spend on product development and service without worrying about the next quarterly earnings report. Whether that translates into better products for customers depends on what Thrive actually builds, and that part is still unannounced.
What changes for ADT customers
Right now: nothing
While the deal is pending, ADT contracts, monitoring prices and privacy policies stay as they are. Thrive Holdings has said ADT’s data and privacy policies will remain unchanged, and that no new data sharing will occur without customer permission. There is nothing customers need to sign, call about or change.
At renewal: compare before you commit
The practical moment to pay attention is renewal. Ownership changes tend to bring new products and pricing over time, and a customer is in the strongest negotiating position before signing another multi-year term. If your contract is close to renewal, it is worth comparing monitoring prices, contract lengths and equipment costs across providers, including ADT itself, before committing.
Longer term: new products, unanswered questions
Thrive says it will invest in ADT’s products, technology and people, and that its engineering teams will work alongside ADT’s professionals to find ways technology can improve service. What has not been announced is any specific product, whether future features would use AI to process video or other customer data, or how any new service would change existing offerings or prices. Customers deciding whether to adopt future features should wait for those details rather than assuming what an AI-backed security product will do.
ADT’s own recent direction is relevant here. The company has been expanding beyond traditional alarms into smart home products, including its ADT Blu line sold through Walmart, and it sells alarm systems, professional monitoring and smart home products through its own sales force and partners. That existing base is what Thrive is buying: a nationwide service network, brand recognition and millions of installed systems.
What changes for ADT shareholders
Shareholders who hold until closing will receive $10.00 per share in cash. The deal still needs their approval, plus antitrust clearance, so closing is not guaranteed. ADT also has a 30-day go-shop period running through November 28, 2026, during which it can actively solicit competing proposals. A higher bid is possible but not guaranteed.
ADT had been scheduled to report third-quarter results before the market opened on November 3, its first update since the deal was announced. That report, the go-shop outcome, the shareholder vote and the antitrust review are the milestones to watch between now and the expected first-quarter 2027 close.
Why this deal matters for the smart home market
The ADT deal lands in a smart home market that is already shifting. Big tech companies are pushing deeper into the home, with Apple and its partners expanding smart home hardware and new hubs on the way. A well-capitalised, privately held ADT with an AI technology partner is a different kind of competitor from a public company managing quarterly expectations.
For rivals such as Vivint, SimpliSafe and Ring, the question is what Thrive’s long-term capital builds: better professional installation and monitoring, smarter cameras and sensors, or a genuinely different AI-assisted security offering. For now, the confirmed change is ownership and a stated intention to invest. The competitive impact will depend on the products that follow.
It is also worth keeping the deal in perspective. Going private removes the pressure of public earnings reports, but it does not remove the hard parts of the business: winning new customers, keeping monitoring quality high, managing installation costs and earning trust with people’s home data. Thrive’s pitch is that permanent capital makes those jobs easier. The next year will show whether it does.
What to watch next
- November 3, 2026: ADT’s scheduled third-quarter results, the first update since the deal
- November 28, 2026: end of the go-shop period for competing bids
- Shareholder vote: date to be set; approval is a closing condition
- Antitrust review: U.S. clearance required before closing
- First quarter of 2027: expected closing and ADT’s exit from the NYSE
- New products: any announcement of AI-backed or smart home products under Thrive ownership
Frequently asked questions
Is ADT going out of business?
No. ADT is being acquired, not shut down. Thrive Holdings plans to keep operating ADT and invest in it, with ADT forming the foundation of its smart home security business.
Do ADT customers need to do anything now?
No. Contracts, monitoring and privacy policies remain unchanged while the deal is pending. There is nothing to sign or call about at this stage.
Will my ADT monitoring price change?
Not because of the announcement. Any future pricing changes would come with new products or contract terms, and customers should compare options at renewal before signing a new multi-year term.
What happens to ADT shares?
If the deal closes, shareholders receive $10.00 per share in cash and ADT shares stop trading. Closing is expected in the first quarter of 2027, subject to shareholder approval and antitrust clearance.
Could another company still buy ADT?
Yes, in principle. ADT has a go-shop period through November 28, 2026, during which it can seek a better offer. A rival bid is possible but not guaranteed.
Will Thrive use AI in ADT security products?
That has not been announced. OpenAI is positioned as a technology partner to Thrive Holdings portfolio companies, but the companies have named no specific AI-powered ADT product, feature or date, and have not said whether future features would process video or other customer data with AI.
The smart home is changing fast, and ADT’s move to private ownership is one of the biggest shifts in the market this year. If you already use ADT, the short version is simple: nothing changes today, renewal is the moment to compare, and the products Thrive builds next are what will decide whether this deal was good for customers. For more on where smart home hardware is heading, see our coverage of Apple and LG’s smart home lineup, the Apple smart home hub, and what to expect from Apple’s October 13 Welcome Home event.