PROVO, Utah—“Disruptive innovation”—shaking up the traditional security model to create new markets—is a major reason for Vivint’s success, according to Vivint COO Alex Dunn.
Vivint signaled it was one of the nation’s home automation market leaders nearly two years ago when it changed its name from APX Alarm to Vivint, rebranding to reflect its expansion beyond home securi
Michael Barnes and George De Marco on the $2 billion valuation of Vivint, whether its growth plans are realistic, and its plans for expansion into commercial security
YARMOUTH, Maine—News today that the Blackstone Group, a $180 billion private equity firm, will acquire home automation and security company Vivint in an agreement worth more than $2 billion is another “huge shot of support for the industry,” Michael Barnes, founding partner of Barnes Associates, a consulting and advisory firm that specializes in the security alarm industry, told Security Systems News.
PROVO, Utah—Vivint has entered into an agreement with the Blackstone Group to be acquired in a deal worth “north of $2 billion,” Todd Pedersen, Vivint CEO, told Security Systems News.
PROVO, Utah—Summer-model company Vivint announced in June of that it had surpassed a $30 million milestone in RMR, putting it among the top three largest security companies in the nation. Also, the residential security and home automation provider said it had added another $50 million to its financing, bringing its total senior debt financing to $812 million.
PROVO, Utah—Vivint Solar, a new company created in June by the security/home automation Vivint—both of which are based here—is taking Vivint’s successful door-knocking model and employing it to sell solar panels to residential customers.
OREM, Utah—Pinnacle Security is suing two former employees and an industry consultant, claiming they “conspired together” to create a new Canadian company, Titan Alarm, to compete against Pinnacle in Canada. Pinnacle contends the employees were working for Pinnacle at the time and that the new company was created by “unlawfully using Pinnacle resources and in violation of contractual and fiduciary duties.”
PROVO, Utah—Vivint, formerly APX Alarm, has completed a $690 million senior debt financing with a group of lenders led by Goldman Sachs Specialty Lending Group. The new credit facility is an increase of $125 million over its previous financing, according to the home automation/security company, which is based here.
