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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Vivint Smart Home (NYSE: VVNT) Enters into Agreement to be Acquired by NRG Energy (NYSE: NRG) for $2.8 Billion

Vivint Smart Home, Inc. (NYSE: VVNT) is engaged as a smart home technology company, which provides in-house consulting, professional installation and customer care to over 1.9 million customers across the United States. Shares of the smart home company are rallying 32% through early trading on Tuesday, December 6, 2022. Over the past three months, Vivint Smart Home has seen average daily volume of 457,660 shares. However, volume of 11.41 million shares or dollar volume of around $135.78 million, has already exchanged hands through early trading.

Shares of Vivint Smart Home are gaining after the company announced it has entered into a definitive agreement to be acquired by NRG Energy (NYSE: NRG) for $12.00 per share or a total transactional value of $2.8 billion. The transaction is estimated to close during the first quarter of 2023 and is subject to Vivint shareholder and regulatory approvals.

NRG is a utility company that provides electricity and natural gas to millions of customers throughout the United States and Canada. The company’s acquisition of Vivint will help expand into the smart home industry and accelerate its growth plan. The acquisition would allow NRG to open cross-selling channels across its network of 7.4 million customers. Management estimates its annual run-rate adjusted EBITDA, with the $100 million of run-rate synergies included, comes out to $835 million.

“Last year at our Investor Day, we presented our strategic roadmap to becoming the leading provider of essential services for homes and businesses, informed by consumer trends and underpinned by disciplined execution,” said Mauricio Gutierrez, President and CEO of NRG. “The acquisition of Vivint is a transformational step in achieving our vision. Customers want simple, connected, and customized experiences that provide peace of mind. Vivint’s smart home technology strengthens our retail platform, improves our customer experience, and increases customer lifetime value. I am excited to welcome Vivint to the NRG family.”

Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/

The post Vivint Smart Home (NYSE: VVNT) Enters into Agreement to be Acquired by NRG Energy (NYSE: NRG) for $2.8 Billion appeared first on Spotlight Growth.

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