Peter Wallace, Senior Managing Director at Blackstone, said, “Vivint is the premier provider of home technology solutions – improving customers’ lives with world-class home security, energy management, home automation, and solar energy. We believe that the company is well positioned to capture significant share of these emerging markets. Todd Pedersen and the talented team at Vivint have built a remarkable company based on cutting-edge product offerings and superior customer service. Blackstone is excited to partner with them in the next phase of the company’s continued growth and innovation.”
It is expected that the transaction will close before year end.
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.
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. About Vivint Solar Vivint Solar, an affiliate of Vivint Inc., is the fastest growing solar company in the United States using the power purchase agreement (PPA) model. This allows Vivint Solar to deliver simple, affordable solar solutions to its customers. Backed by the award-winning customer support and proven infrastructure of Vivint Inc., Vivint Solar is dedicated to saving customers money and protecting the environment. For more information, visit www.vivintsolar.com. About 2Gig Technologies, Inc. Formed in 2007, 2GIG Technologies designs and manufactures the most technologically-advanced residential security and home management solutions in the industry. 2GIG’s Go!Control — the first self-contained, all-in-one security and home management system — was named Security Product of the Year by the Consumer Electronics Association and received the Electronic Security Expo’s top honor, the Maximum Impact Award, in 2011. 2GIG Technologies is a Principal Member of the Z-Wave Alliance™, which enables 2GIG to provide customers with one of the most innovative, interactive home security platforms on the market. 2GIG Technologies is committed to providing consumers with the flexibility and cost-effective technology necessary to manage their home automation and security functions from the panel's LCD touch-screen display, the Internet, or their PDA. For more information about 2GIG Technologies, please visit www.2gig.com. About Blackstone Blackstone (NYSE: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.
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