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Why AI Investors Are Buying ADT, Accountants and Call Centers

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Why AI Investors Are Buying ADT, Accountants and Call Centers

Thrive Holdings, an OpenAI-backed holding company, agreed Oct. 29 to buy ADT, the home security provider, for $15.3 billion including debt, a deal that would add 6.1 million monitoring subscribers to a portfolio of more than 75 businesses.

Long Lake, the General Catalyst-backed holding company that owns HOA management, payroll and travel businesses, has bought 40 companies, and General Catalyst says its Nexus platform builds board packets in seconds.

Lightspeed Venture Partners, the Silicon Valley firm that has backed Anthropic and Databricks, has raised more than $750 million for a fund to buy and upgrade eight to 10 established businesses.

Artificial intelligence investors are no longer only backing software for accountants, property managers and call centers. A growing number are buying the businesses themselves. The targets already have customers, recurring revenue and years of operating data. What they lack is the technology to do the same work in fewer hours.

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The latest example is ADT. Thrive Holdings agreed Thursday (Oct. 3 billion including debt, ADT said . Thrive Holdings is a permanent capital holding company spun out of venture firm Thrive Capital in 2025. It buys accounting and IT services firms and rebuilds their workflows on AI, and it owns more than 75 businesses, TechCrunch reported . Its accounting platform, Current, has acquired 48 local firms and runs a tax-return agent built with OpenAI’s Codex, PYMNTS reported in August.



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