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.
To contact the reporter on this story: Christopher Martin in New York at cmartin11@bloomberg.net
To contact the editor responsible for this story: Jasmina Kelemen at jkelemen2@bloomberg.net
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