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Todd Pedersen

Vivint partners with LifeLock

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04/10/2014

LAS VEGAS—Vivint, a leading home automation/home security provider, and LifeLock, a provider of identity theft protection services, announced a partnership at the ISC West show here that will give Vivint customers the ability to bundle their new or existing Vivint packag

Vivint Solar gets new CEO

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09/05/2013

PROVO, Utah—Greg Butterfield has been named the new CEO of Vivint Solar, the residential solar integrator announced in a Sept. 5 news release.

Vivint to open new sales center in Washington state

The door-to-door company looks to diversify by growing inside sales 75 percent this year
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06/26/2013

PROVO, Utah—Home automation/home security giant Vivint is opening a new 400-employee sales center in Washington state, part of a move by the door-knocking company to diversify itself by increasing inside sales.

Vivint CEO encourages entrepreneurs to pitch ideas

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05/14/2013

PROVO, Utah—A group of 10 Utah County-based startup companies competed to win $4,500 in cash and a chance to sit down with Vivint founder and CEO Todd Pedersen, according to an article from the Daily Herald, a newspaper based here.

Vivint CEO buying golf course, becoming developer

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Wednesday, March 27, 2013

Vivint has been in the news a lot since it was acquired late last year by the Blackstone Group for more than $2 billion. But the latest scoop is actually about the CEO of the Provo, Utah-based company, Todd Pedersen. He’s about to buy a golf course in nearby Orem and turn it into a housing development where he and others will live, according to the Daily Herald, a Provo-based newspaper.

But Pedersen also will give 20 acres of the property back to the city for recreation, the report says.

The paper says the Cascade Golf Center has been in business 45 years but has announced this year will be its last because it’s being sold to Pedersen for a residential development. The paper quotes Keven Stratton, Jr., who runs the family-owned golf course, as saying the economic downturn and competition from new golf courses have made business difficult.

Here’s more from the newspaper's March 21 story:
 

Todd Pedersen acknowledged Wednesday that he is in a business arrangement with the Strattons on the sale of the lease and is going through due process and will eventually come to the city council for approval. Pedersen's proposal would give him land to develop low-density homes -- approximately 12 to 15, with his being one -- but he would return to the city approximately 20 acres of land worth $7 million in fully developed parkland, sports fields, with infrastructure, parking, bathrooms and more.

"My wife and I have lived in the valley and we want to do something that most residents can enjoy," Pedersen said. "I want to make sure for the city management that the best uses will be made for the most citizens."

Pedersen knows many golfers in the community will be unhappy losing Cascade and he understands how they feel.

If Pedersen's proposal is carried through it will bring approximately $300,000 in property tax revenues to the city. He said that more than replaces the $450 a year the city receives through the Strattons' lease. Because the property is zoned R1-12 the plan Pedersen is proposing complies with the zone.

Cascade Golf Center opened in May 1968 after the city agreed to lease property to the Strattons until 2060. A second-generation owner, Stratton purchased the golf course in 1989 from his father and other partners. The construction and operation of the course has been privately financed. …

… The 53 acres owned jointly with Orem City along with the majority of the 67 acres of privately owned land that make up Cascade Golf Center are being sold. That includes the miniature golf course, the driving range, the small orchard east of the range, the Valley Course or lower nine and the back nine.

While the price of the property and the lease's selling price have not been disclosed, it is no secret that Orem and other developers see this as prime property, possibly worth as much as $200,000 an acre.

 

Vivint CEO named 2013 entrepreneur of the year

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02/28/2013

PROVO, Utah—Todd Pedersen, co-founder and CEO of Vivint, has been named the 2013 entrepreneur of the year by MountainWest Capital Network, according to an article from The Digital Universe, a campus newspaper at Brigham Young University.

Vivint gets new president

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02/06/2013

PROVO, Utah—Alex Dunn, who previously served as Vivint’s chief operating officer, has been promoted to the position of company president, according to a company statement.

Blackstone closes on Vivint purchase

Deal will allow Vivint to ramp up inside sales; company also is seeking new CFO
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12/19/2012

PROVO, Utah—The deal is done: The Blackstone Group has officially closed on its purchase of home automation/home security giant Vivint for more than $2 billion.

CAA symposium to feature four top industry execs

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10/10/2012

SAN FRANCISCO—Leaders from four security companies will speak at an executive symposium at the California Alarm Association’s 2012 Winter Convention, to be held here Dec. 5-8.

Putting the Vivint sale in perspective

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
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09/19/2012

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.

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