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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.

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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