Blackstone Group Agrees to Buy Vivint Inc. for About $2 Billion
Blackstone Group LP, the world’s biggest private-equity firm, agreed to buy Vivint Inc. for about $2 billion to gain home-security, energy-management and solar- power customers in more than 670,000 homes in North America.
Blackstone is buying a majority stake in the Provo, Utah- based home security and solar-leasing company from initial investors Goldman Sachs Group Inc. (GS), Jupiter Partners LLC and Peterson Partners LP in a deal that should be completed by year end, founder and Chief Executive Officer Todd Pedersen said in an interview today. He plans to keep his minority equity stake.
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