ADT to Be Acquired by Thrive Holdings for $15.3 Billion in Cash

ADT Inc. (NYSE: ADT) agreed to be bought by Thrive Holdings in an all-cash deal, the company said in an 8-K filed Thursday, Oct. 29, 2026. The attached press release values ADT at about $7.6 billion in equity value and $15.3 billion in enterprise value.

The price and premium

ADT stockholders will receive $10.00 per share in cash upon completion. The company said that price is a 45.6% premium to its unaffected closing share price of $6.87 on Oct. 27, 2026, and a 52.1% premium to its 30-day volume-weighted average share price ending that day. The ADT board unanimously approved the agreement.

The last close before the announcement was $7.41 on Wednesday, Oct. 28, 2026. At that price, the company's market value before the filing was about $5.41 billion, based on 730.6 million shares as of July 23, 2026, across all share classes.

What the company reported for its size

For the 2025 fiscal year, ADT reported revenue of $5.13 billion, up 5% from a year earlier, and net income of $596.0 million, up 19%. In the quarter ended June 30, 2026, revenue was $1.31 billion, up 2%, while operating income of $315.9 million fell 8% and net income of $153.8 million fell 7%. Cash and equivalents were $3.9 million at June 30, 2026.

The $15.3 billion enterprise value is well above the roughly $5.41 billion pre-filing market value, a gap that reflects the debt and other obligations the company carries, though the filing does not break those out.

Timing and conditions

The deal is expected to close in the first quarter of 2027, subject to approval by ADT stockholders and receipt of U.S. antitrust approval. The company said the transaction is not subject to a financing condition, and that financing commitments were provided solely by funds managed by affiliates of Apollo Global Management, Inc.

ADT may solicit competing proposals for 30 days, through 11:59 p.m. New York City time on Nov. 28, 2026, with a possible 10-day extension for certain parties. The company said it does not intend to disclose go-shop developments unless it determines disclosure is appropriate or required. ADT would be able to terminate the merger agreement to accept a superior proposal, subject to its terms.

Until the deal closes, ADT will continue to operate independently. Its third quarter 2026 results are scheduled for Nov. 3, 2026, before market open, and the company said it will not take questions on the call. Its common stock would stop trading on the New York Stock Exchange upon completion.

The company said Thrive Holdings plans to keep ADT's data and privacy policies unchanged, with no new data sharing without customer permission. The filing does not say what Thrive Holdings plans to do with ADT's workforce or service network after closing.