The Blackstone Group LP (NYSE: BX) is going big into home automation, and we would note that there is a solar angle here as well. The private equity giant is paying a sum of $2 billion to acquire Vivint from its existing shareholders. Those existing shareholders were listed as affiliates of Goldman Sachs Group Inc. (NYSE: GS) and also Peterson Partners, Jupiter Partners and other minority shareholders. The price tag is said to be in excess of $2 billion.
Vivint is listed as the largest home automation services company in North America and is also listed as the second largest residential security services provider.
As a part of the transaction, Blackstone will acquire Vivint Solar, Inc. and 2GIG Technologies, Inc. from its respective shareholders. Vivint Solar is a provider of solar solutions that leverages the power purchase agreement model to offer affordable solar power to residential customers. 2GIG Technologies…
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