“PROVO, Utah (AP) — Blackstone is leading a group that has agreed to buy home security providerVivint for more than $2 billion.
Provo, Utah-based Vivint is one of the largest providers of home automation and security services inNorth America. Its shareholders include Goldman Sachs, Peterson Partners and Jupiter Partners.
Under the agreement announced Wednesday, Vivint will be acquired by a fund managed by the New York-based investment firm on behalf of its private equity investors.
“Vivint is the premier provider of home technology solutions — improving customers’ lives with world-class home security, energy management, home automation, and solar energy,” Peter Wallace, senior managing director at Blackstone, said in a statement. “We believe that the company is well positioned to capture significant share of these emerging markets.”
The company said it supports more than 675,000 customers in the United States and Canada.”Twitter