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00:02Home security company ADT has agreed to be acquired by Josh Kushner's venture capital firm
00:08Thrive Holdings for $7.6 billion in cash, according to the Wall Street Journal.
00:14Thrive, an investment vehicle formed by Josh Kushner's venture capital firm Thrive Capital,
00:19will pay $10 per share, a 35% premium to Wednesday's closing price.
00:25ADT shares rose 34% to $9.93 in early trading Thursday.
00:31The deal carries an enterprise value of $15.3 billion,
00:35with financing commitments from Apollo Global Management.
00:39Thrive Holdings focuses on investing in established businesses
00:43and integrating artificial intelligence to accelerate their operations.
00:47The company raised $2 billion from outside investors in August at a $12 billion valuation.
00:53The acquisition is expected to close in the first quarter of 2027
00:57and includes a 30-day period for ADT to seek competing offers.
01:02For all things money, visit Benzinga.com.
