ADT, headquartered on Yamato Road, agreed to be bought by Thrive Holdings for $10 a share and go private. Customers' service does not change, the company said.

ADT, the home security company headquartered in Boca Raton, has agreed to be sold to Thrive Holdings. The deal values ADT at $15.3 billion including its debt, and ADT would stop trading on the New York Stock Exchange.

The company announced the agreement Thursday in a news release filed with the Securities and Exchange Commission. ADT’s board approved it unanimously.

ADT gives its principal executive office as 1501 Yamato Road in its SEC filing on the deal. It is one of the best-known companies with a head office in the city.

The deal

ADT stockholders would receive $10 a share in cash. ADT said that is:

  • 45.6% above its closing share price of $6.87 on Tuesday, Oct. 27, before the deal was known
  • 52.1% above its average share price over the 30 days to Oct. 27

The agreement puts ADT’s equity value at about $7.6 billion and its enterprise value, which adds in debt, at $15.3 billion. Funds managed by affiliates of Apollo Global Management are providing all of the financing, the release said.

Thrive Holdings describes itself as a permanent capital holding company. It owns more than 75 businesses in accounting, IT services and construction services, the release said. ADT would become the base of Thrive Holdings’ smart home security business.

“ADT is pleased to enter into this transaction, which recognizes the value built by our more than 12,000 employees and delivers an attractive cash premium to our stockholders,” Jim DeVries, ADT’s chairman, president and CEO, said in the release.

What happens next

  • Until 11:59 p.m. ET Saturday, Nov. 28: ADT may look for a better offer from other buyers. The agreement allows a possible 10-day extension for some bidders.
  • Tuesday, Nov. 3: ADT reports its third-quarter results before the market opens, with a 10 a.m. ET call. It will not take questions on the call because of the deal.
  • First quarter of 2027: the sale is expected to close. It still needs approval from ADT’s stockholders and U.S. antitrust clearance.

Until then, ADT “will continue to operate independently,” the company said.

What the company has not said

Neither the release nor ADT’s messages to staff and partners, which it filed with the SEC, say anything about the Boca Raton headquarters or local jobs. The employee FAQ says there are “no changes to employees’ day-to-day responsibilities or reporting as a result of this announcement.” It does not give a figure for staff in Boca Raton.

We will update this page if ADT or Thrive Holdings says more about the headquarters.

What it means for you

  • If you are an ADT customer, your service does not change because of the announcement, ADT told its dealers in an email it filed with the SEC. The company’s data and privacy policies stay the same, and “no new data sharing will occur without customer permission,” the release said.
  • If you own ADT stock, you would get $10 a share in cash when the deal closes. ADT plans to send stockholders a proxy statement before the vote.
  • If you work for ADT or one of its vendors, ADT told vendors the deal “does not change our existing vendor agreements.”

For other businesses opening, moving and changing hands in the city, see our new businesses page.