NEW YORK--(BUSINESS WIRE)--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.