Worth knowing
OpenAI-backed Thrive Holdings acquires ADT
This $15.3 billion acquisition is a major example of private equity-style roll-ups using direct access to OpenAI technology and engineers to transform legacy industries like physical security.
Reported by TechCrunch ·
What happened
Thrive Holdings, a holding company spinout from Thrive Capital backed by OpenAI, has acquired physical security company ADT in a deal valued at $15.3 billion. Thrive Holdings focuses on acquiring and revitalizing businesses with AI, utilizing OpenAI models, technology, and forward-deployed engineers. The companies plan to use ADT as the foundation for a smart home security business and develop new AI-powered products.
Source
TechCrunch
OpenAI-backed Thrive Holdings acquires ADT
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