PROVO, Utah—In a deal that includes 20 lenders, Vivint announced Feb. 29 that it has closed a new $762 million senior debt financing, $72 million more than the residential security and home automation provider’s previous financing.
LANCASTER, Pa.—Select Security--a super-regional based here that has spent the past two summers trying to beat the big summer-model companies at their own game by running its own door-knocking program--is upping the ante.
OREM, Utah—Pinnacle Security is suing two former employees and an industry consultant, claiming they “conspired together” to create a new Canadian company, Titan Alarm, to compete against Pinnacle in Canada. Pinnacle contends the employees were working for Pinnacle at the time and that the new company was created by “unlawfully using Pinnacle resources and in violation of contractual and fiduciary duties.”
PROVO, Utah—Vivint, formerly APX Alarm, has completed a $690 million senior debt financing with a group of lenders led by Goldman Sachs Specialty Lending Group. The new credit facility is an increase of $125 million over its previous financing, according to the home automation/security company, which is based here.
PROVO, Utah—Vivint announced on March 17 that it was in the process of transferring all of its more than 500,000 monitored accounts to Secure Global Solutions’ stages central station automation platform. Vivint expects to have the transfer completed by the end of April, with both of Vivint’s monitoring centers going through the switch over.
VIENNA, Va.—Utility companies are installing smart meters on homes and businesses around the nation to help the utilities and their customers better manage power usage. But the devices also appear to have some drawbacks—one of them being possible interference with property owners’ security alarm system.