ADT (NYSE: ADT) could be headed back into private hands, with Thrive Capital in talks to acquire the company, according to Octus.

The credit market news provider reported that a potentially record-breaking private loan is under consideration for the deal involving Joshua Kushner’s Thrive Capital. Bank financing is also being explored, and no deal has been finalized, Octus reported in a post on X.

The reported talks follow Apollo Global Management’s move in May to sell its remaining stake in ADT, ending a nearly decade-long investment. Apollo acquired ADT in 2016 and took it public again in 2018, then gradually reduced its ownership through a series of share sales.

RBC Capital Markets views ADT as a potential takeover candidate following progress in its business transformation, according to TheFly’s account of the firm’s analysis.

RBC pointed to ADT’s migration to Google Cloud, integration of artificial intelligence and move away from costly ways of attracting new customers, TheFly reported. However, the firm noted that the change in customer acquisition strategy has weighed on revenue growth.

Competition from do-it-yourself security providers and concerns about AI’s potential to disrupt ADT’s business continue to weigh on its stock, according to RBC’s assessment as reported by TheFly.

RBC analyst Ashish Sabadra has a Sector Perform rating and a $9 price target on ADT, Seeking Alpha reported. The outlet put ADT’s market value at approximately $5 billion.

ADT is scheduled to report its third-quarter results Tuesday. 

ADT’s recent deals

In September 2025, Everon announced an agreement to acquire ADT’s business-to-business multifamily business for $55 million in cash. The deal covered approximately 200,000 customer units serving apartment buildings, townhomes, student housing and military housing.

Earlier this year, ADT acquired Origin Wireless, adding technology that detects motion and human presence without cameras, audio or wearable devices. ADT said it expects to begin introducing offerings incorporating the technology in 2027.

SecurityInfoWatch will continue to follow developments surrounding the potential acquisition.