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September 19, 2012 06:02 am GMT
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, a developer of security and automation equipment.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/y67FhfCGz3c/
Blackstone Throws Down Just Over $2 Billion To Acquire Home Automation Giant Vivint
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, a developer of security and automation equipment.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/y67FhfCGz3c/
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