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updated: 9/19/2012 7:17 AM

Blackstone to buy Vivint for more than $2 billion

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Associated Press

PROVO, Utah -- Blackstone says it has agreed to buy Vivint for more than $2 billion.

Provo, Utah-based Vivint is one of the largest providers of home automation and security services in North America. Its shareholders include Goldman Sachs, Peterson Partners and Jupiter Partners.

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As part of the deal, Blackstone will buy solar energy provider Vivint Solar Inc. and automated equipment provider 2GIG Technologies Inc.

New York-based Blackstone Group Inc. says the additions will expand its technology-based holdings. The company will retain its existing management team and continue to expand its sales force.

The deal is expected to close by the end of the year.

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