Wednesday, September 19, 2012

Vivint Acquired By Blackstone For More Than $2.0 Billion

Provo, Utah-based home automation provider Vivint has found a buyer, saying today that it is being acquired by private equity firm Blackstone. The two said the deal is worth in excess of $2.0 billion. Blackstone is buying Vivint from its existing shareholders, which include Goldman Sachs, Peterson Partners, Jupiter Partners, and others. Blackstone and Vivint said the deal also includes the acquisition of Vivint Solar, the solar installer and provider of power-purchase agreements (PPAs), as well as 2GIG Technologies. Vivint is a provider of home automation installation, energy management, and solar power installation and operations.