Beyond equity, the total enterprise value of the deal is $15.3 billion, ADT said. Thrive Holdings is the PE spin-out from Josh Kushner’s powerhouse VC firm Thrive Capital. It also counts OpenAI as its partner, as well as an investor.
The firm’s mission is to hold other companies long-term, revitalizing them with AI. Currently, Thrive Holdings holds over 75 companies, it says. As a partner, OpenAI supplies AI models and tech as well as people, otherwise known as forward-deployed engineers, to Thrive’s companies.
Neither ADT nor Thrive announced what new AI-powered security products they will be releasing, but they did tease that the plan was to invest and release new products. AI-powered physical security is having a moment right now. Apple just entered the field with a new line of smart home and home security products in collaboration with LG and Schneider Electric.
Amazon updated its smart home line, including new AI-powered home cameras. And who knows what the future might bring? Some startups are offering AI dog robots as roving security guards.
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