Vivint Agrees To $2.8B NRG Acquisition
The company Agrees To $2.8B NRG Acquisition
The company Agrees To $2.8B NRG Acquisition – Vivint Smart Home has signed a $US2.8 billion acquisition agreement with NRG Energy.
Vivint’s business model includes hardware, software, sales, installation, support, and professional monitoring, and the company has 2 million customers.
NRG will acquire the company for $12 per share, all-cash, with an implied multiple of 6.3x run-rate enterprise value to adjusted EBITDA. The agreement has been unanimously approved by the boards of directors of both companies.
“The acquisition of Vivint is a transformational step in achieving our vision,” said Mauricio Gutierrez, president and CEO of NRG.
“Customers want simple, connected, and customized experiences that provide peace of mind. The company’s smart home technology strengthens our retail platform, improves our customer experience, and increases customer lifetime value. I am excited to welcome them to the NRG family.”
According to NRG, the combined company will be home solutions provider with approximately 7.4 million customers across North America.
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