Sign Up for FREE Daily Energy News
Canadian Flag CDN NEWS  |  US Flag US NEWS  | TIMELY. FOCUSED. RELEVANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • youtube2
BREAKING NEWS:

Vista Projects
Copper Tip Energy Services
Copper Tip Energy
Vista Projects


NRG Energy to Buy Vivint Smart Home for $2.8 Bln


English Español 简体中文 हिन्दी Português
These translations are done via Google Translate
Dec 6 (Reuters) – Power company NRG Energy Inc (NRG.N) said on Tuesday it will buy Vivint Smart Home Inc (VVNT.N) for $2.8 billion in cash, adding security and other automation products to its home service offerings.

The $12 per share deal is at a premium of 33.5% to Vivint’s closing stock price on Monday. Houston, Texas-based NRG will also take on $2.4 billion of debt as part of the deal.

Vivint’s shares rose nearly 32% in premarket trading and were just shy of the offer price, while those of NRG were down 4.5% at $39.

Vivint makes a range of home security products and hubs that help in controlling other automation gadgets, such as Amazon Echo and Google Home, through a central touchscreen panel.

GLJ
EnergyNow Stand Out 2023 Promo
All Business Marketing - Teledyne FLIR
All Business Marketing - Teledyne FLIR
GLJ
EnergyNow Stand Out 2023 Promo

Together, the companies will serve over 7.4 million customers across North America, they said in a statement.

The buyout has been unanimously approved by the boards of both the companies and is expected to close in the first quarter of next year.

Provo, Utah-based Vivint was bought by Blackstone for over $2 billion in 2012. Vivint then became publicly listed through a reverse merger with Mosaic Acquisition, a special-purpose acquisition company of SoftBank Corp.



Share This:



More News Articles


GET ENERGYNOW’S DAILY EMAIL FOR FREE