Blackstone $2 Billion Acquisition Ties in Solar and Home Automation
September 19, 2012 by Jon C. Ogg
The Blackstone Group LP (NYSE: BX) is going big into home automation, and we would note that there is a solar angle here as well. The private equity giant is paying a sum of $2 billion to acquire Vivint from its existing shareholders. Those existing shareholders were listed as affiliates of Goldman Sachs Group Inc. (NYSE: GS) and also Peterson Partners, Jupiter Partners and other minority shareholders. The price tag is said to be in excess of $2 billion.
Vivint is listed as the largest home automation services company in North America and is also listed as the second largest residential security services provider.
As a part of the transaction, Blackstone will acquire Vivint Solar, Inc. and 2GIG Technologies, Inc. from its respective shareholders. Vivint Solar is a provider of solar solutions that leverages the power purchase agreement model to offer affordable solar power to residential customers. 2GIG Technologies is a developer of security and automation equipment for the residential and small commercial markets.
The move is hard to peg on any set outcome, but it is hard to not notice that First Solar, Inc. (NASDAQ: FSLR) is up over 4% at $24.17. The Guggenheim Solar (NYSEMKT: TAN) is up 1.1% at $18.32 on the day.
JON C. OGG
Smart Investors Are Quietly Loading Up on These “Dividend Legends”
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.