Blackstone to buy Vivint for $2bn

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US private equity firm Blackstone has reportedly agreed to buy Vivint for $2bn, in an effort to gain more than 670,000 energy management, solar power and home security customers in North America.

Blackstone is acquiring the business from initial investors Goldman Sachs, Jupiter Partners and Petersen Partners, in a deal expected to be closed by the end of the year, Bloomberg reported.

Todd Pedersen, founder and CEO of Vivint, told Bloomberg, “We were a small company when they first invested in us in 2006.

“They’ve done very well since then and with Blackstone we’ll have the strong backing in the capital markets that will help us scale up.”

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