Blackstone (BX) to Acquire Vivint in $2B Deal

Vivint and Blackstone (NYSE: BX) today announced a definitive agreement under which a fund managed by Blackstone on behalf of its private equity investors, Blackstone Capital Partner VI, L.P. (collectively with its affiliates, “Blackstone”), will acquire Vivint from its existing shareholders, including Goldman Sachs, Peterson Partners, Jupiter Partners and other minority shareholders for in excess of $2.0 billion. Vivint is the largest home automation services company in North America and second largest residential security services provider.

As part of the transaction, Blackstone will acquire Vivint Solar, Inc. and 2GIG Technologies, Inc. from its respective shareholders. Vivint Solar is an innovative provider of solar solutions that leverages the power purchase agreement (PPA) model to offer affordable solar power to residential customers throughout North America. 2GIG Technologies is a developer of industry-leading security and automation equipment for the residential and small commercial markets.

Citi and BofA Merrill Lynch acted as financial advisors and Jones Day acted as legal counsel to Vivint in the transaction. Blackstone Advisory Partners and Raymond James acted as financial advisors and Simpson Thacher and Bartlett served as legal counsel to Blackstone in the transaction.

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