Blackstone Announces Closing of Vivint Transaction
Acquisition Equips Vivint, North America’s Largest Home Automation Services
Provider, with Capital and Support to Extend Its Market Leadership
NEW YORK -- November 19, 2012
Blackstone (BX) announced today that it has closed the previously announced
acquisition of Vivint. Blackstone Capital Partners VI, L.P., a fund managed by
Blackstone on behalf of its private equity investors, acquired Vivint for in
excess of $2 billion.
The acquisition includes three primary assets: Vivint, one of the largest home
automation services companies and the second largest residential security
services provider in North America; Vivint Solar, the fastest growing solar
company in the United States using power purchase agreements to provide
affordable solar solutions to residential consumers across North America; and
2GIG Technologies, which creates industry-leading security and automation
equipment for the residential and small commercial markets.
About Vivint, Inc.
Vivint Inc. is a leading provider of home technology services. Vivint services
are delivered through a technology-based platform that integrates a wide range
of wireless features and components to provide simple, affordable home
security, energy management, home automation, and solar solutions. Our vision
is to connect customers to the things that matter most—their homes, families,
health, cars, and businesses. In 2011, Vivint's Home Automation package and
Advanced Security package received a Consumers Digest "Best Buy" rating.
Vivint also received the 2012 CSAA Central Station of the Year award for
overall excellence in monitoring, training, and quality relationships with
customers. Dedicated to protecting families, increasing energy efficiency, and
simplifying lives, Vivint has over 13 years of experience and supports more
than 675,000 customers throughout the United States and Canada. For more
information, visit the company’s website at www.vivint.com.
Blackstone (BX) is one of the world’s leading investment and advisory firms.
Blackstone seeks to create positive economic impact and long-term value for
its investors, the companies they invest in, the companies they advise and the
broader global economy. Blackstone does this through the commitment of their
extraordinary people and flexible capital. Their alternative asset management
businesses include the management of private equity funds, real estate funds,
hedge fund solutions, credit-oriented funds and closed-end mutual funds.
Blackstone also provides various financial advisory services, including
financial and strategic advisory, restructuring and reorganization advisory
and fund placement services. Further information is available at
www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
Director of Media Relations
Alex Koritz, 801-461-9795
Vivint Public Relations
Christine Anderson, 212-583-5263
Press spacebar to pause and continue. Press esc to stop.