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Tag: Vivint Smart Home


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Residential

Vivint partners with Freedom Forever to offer more energy saving options

July 26, 2021SSN Staff

PROVO, Utah—Vivint Smart Home announced that it has entered into a strategic partnership with Freedom Forever, one of the largest national residential solar system installers. Vivint said the relationship between the two companies will help homeowners get a step closer to living in a smart home that generates as much energy as it uses. “Joining forces with Freedom Forever broadens our offering and provides value to customers who are worried about the environment and skyrocketing energy...

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Vivint completes refinancing, secures new credit facility

Residential

Vivint completes refinancing, secures new credit facility

July 12, 2021SSN Staff

PROVO, Utah—Vivint Smart Home, Inc. announced that it successfully completed its latest round of refinancing efforts, including securing a new credit facility and revolving line of credit. According to the details of the deal, APX Group, Inc., an indirect, wholly owned subsidiary of the company, completed its offering of $800 million aggregate principal amount of 5.75 percent senior notes due 2029 in a private placement. Vivint also announced that, concurrently with the Notes offering,...

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Residential

Vivint Smart Home names David Bywater as new CEO

June 9, 2021SSN Staff

PROVO, Utah—Vivint Smart Home, Inc. announced that David Bywater has been appointed chief executive officer. This follows Todd Pedersen stepping down as CEO of Vivint Smart Home, although he will remain a member of the board of directors. Bywater will also be joining the company’s board of directors. These changes will become effective on June 15, 2021. “We are pleased to have a leader with David’s robust skillset and intimate understanding of our business and operations...

Todd Pedersen, Vivint Smart Home


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Residential

Todd R. Pedersen to step down as Vivint CEO

May 27, 2021SSN Staff

PROVO, Utah—Vivint Smart Home announced this week that company Founder and Chief Executive Officer Todd R. Pedersen has decided to step down as CEO, effective once the board of directors of the company appoints his successor. Pedersen will remain a member of the board of directors. “I have decided that after 20 years of building a successful company, it is time for me to pursue my other entrepreneurial goals and devote myself to those investments and businesses,” said Pedersen....

Todd Pedersen, Vivint Smart Home


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Vivint to pay $20M to settle FTC claims it misused consumer credit reports

Residential

Vivint to pay $20M to settle FTC claims it misused consumer credit reports

April 29, 2021Paul Ragusa, Editor

PROVO, Utah—Smart home security and monitoring company Vivint Smart Homes Inc. has agreed to pay $20 million to settle Federal Trade Commission (FTC) allegations that the Utah-based firm misused credit reports to help unqualified customers obtain financing for the company’s products and services. Under the settlement, Vivint will pay a $15 million civil penalty and an additional $5 million to compensate injured consumers. In a complaint filed by the Department of Justice on behalf...

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Residential

ADT issues statement on Vivint lawsuit

March 4, 2021Paul Ragusa, Editor

BOCA RATON, Fla.—ADT issued an official response to the recent news that Vivint Smart Home has filed a patent infringement lawsuit against them in the United States District Court for the District of Utah. ADT told Security Systems News, “On Feb. 25, 2021, Vivint, Inc. filed a complaint against ADT Inc. in the United States District Court for the District of Utah, Central Division, claiming that ADT has infringed certain of Vivint’s patents. ADT believes the claims asserted by...

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Residential

Vivint president Alex Dunn to step down

March 5, 2020SSN Staff

PROVOST, Utah—Vivint Smart Home Inc. announced that Alex J. Dunn is stepping down as president of Vivint Smart Home after 14 years at the company. He will remain an advisor to the company through March 2021. Scott R. Hardy, Vivint's chief operating officer, will assume many of his day-to-day responsibilities."I am deeply grateful to Alex for helping Vivint become a leading smart home provider," Todd Pedersen, CEO of Vivint Smart Home, said in the announcement. "We thank him and wish him continued...

Alex Dunn, Todd Pedersen, Vivint Smart Home


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Residential

Vivint Smart Home and Mosaic complete merger

January 23, 2020SSN Staff

PROVO, Utah and NEW YORK—Vivint Smart Home and Mosaic Acquisition Corp. announced the completion of the previously announced transaction between Vivint and Mosaic, which results in Vivint becoming a publicly traded company.The transaction is one of the largest U.S. SPAC mergers ever with an enterprise value of $4.2 billion, including additional equity of $488 million.The combined company will be named Vivint Smart Home and began trading under the ticker symbol VVNT on the New York Stock Exchange...

Alex Dunn, David Maura, Mosaic Acquistion Corp. Todd Pedersen, Vivint Smart Home


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Residential

Vivint Smart Home and Mosaic to merge

September 18, 2019SSN Staff

PROVO, Utah and NEW YORK—Vivint Smart Home and Mosaic Acquisition Corp., a publicly traded special purpose acquisition company, announced they have entered into a definitive agreement to merge Vivint with a subsidiary of Mosaic.Following the merger, Mosaic will be renamed “Vivint Smart Home, Inc.” With an agreed initial enterprise value of $5.6 billion, Vivint is anticipated to have revenues of $1.3 billion for fiscal year 2020E and Adjusted EBITDA of $530 million, implying an Adjusted...

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Residential

Vivint Smart Home introduces zero-down financing for property owners and managers

June 28, 2019SSN Staff

PROVO, Utah—Vivint Smart Home recently introduced zero-down financing to help property owners and managers add smart home technology to their multifamily developments with no upfront cost. This is the first zero-down financing option for a comprehensive multifamily smart home solution, making it easier than ever to add smart home capabilities to both new and existing properties.Vivint offers a comprehensive suite of smart home products designed for rental and multi-family properties. Smart...

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