Blackstone Throws Down Just Over $2 Billion To Acquire Home Automation Giant Vivint

view story

http://techcrunch.com – News broke tonight that The Blackstone Group, which operates the second largest equity fund businesses in the world, has agreed to acquire home automation giant, Vivint, in a deal that’s worth just over $2 billion. Blackstone will be purchasing Vivint from Goldman Sachs, Jupiter Partners and Peterson Partners, the company’s current sponsors. The deal, which includes debt, will give the private equity firm more than a 50 percent stake in Vivint. As part of the deal Blackstone acquires Vivint Solar, which provides affordable solar power to residential customers and 2GIG Technologies, (IT news)