Submitted by Fox First at Ten on September 19th
By The Associated Press
THE DEAL: Blackstone Group LP is leading a group that has agreed to buy home security provider Vivint for more than $2 billion. The transaction is expected to close by year-end.
THE TARGET: Provo, Utah-based Vivint is one of North America's largest providers of home automation and security services. The company has more than 675,000 customers in the U.S. and Canada. Its shareholders include Goldman Sachs, Peterson Partners and Jupiter Partners.
THE REASON: Blackstone said it believes Vivint is poised to capture share in the emerging markets of energy management, home automation and solar energy.
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