What's Happening
- Private equity firm Thrive Holdings acquired physical security company ADT for $7.6 billion in equity.
- The transaction gives ADT a total enterprise value of $15.3 billion.
- Thrive Holdings plans to use the acquisition to build a smart home security business.
Why It Matters
The acquisition signals a push to integrate generative AI into physical security and smart home hardware. Thrive Holdings plans to use OpenAI models and engineering talent to overhaul legacy businesses.
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