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OpenAI-backed Thrive Holdings Acquires Home Security Company ADT for $15.3 Billion, Plans to Introduce AI Technology
OpenAI-backed Thrive Holdings has agreed to acquire home security company ADT for a total enterprise value of $15.3 billion. The move aims to bring AI technology into the home security business, with ADT serving as the foundation for Thrive Holdings' smart home security operations. Thrive Holdings is a private equity spin-off of Josh Kushner's venture capital firm Thrive Capital, with OpenAI as a partner and investor, providing AI models, technology, and engineers to Thrive Holdings' portfolio companies.
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