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Vivint: 'Disruptive innovation' key to success

Company sees 'more opportunity to disrupt' and joins new business trend by hiring chief innovation officer
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01/30/2013

PROVO, Utah—“Disruptive innovation”—shaking up the traditional security model to create new markets—is a major reason for Vivint’s success, according to Vivint COO Alex Dunn.

Vivint rapidly automating Canadian homes

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Wednesday, December 5, 2012

Vivint signaled it was one of the nation’s home automation market leaders nearly two years ago when it changed its name from APX Alarm to Vivint, rebranding to reflect its expansion beyond home security into home automation services. The company has done so well that it has entered into a deal to be sold to the Blackstone group for more than $2 billion.

Now the Provo, Utah-based summer model company seems to be turning its focus to Canada. A recent press release from the company says that country “ranks among Vivint’s fastest growing markets.”

Here’s more from the news release:

"More than two out of three (68 percent) of Vivint’s Canadian customers in 2012 adopted one or more home automation features after purchasing a Vivint home security system. That was up from 57.6 percent compared to the previous year. Vivint’s home automation features include live video feeds of a home from a smartphone or computer, app-controlled door locks, thermostats, lighting features, alarms, motion detectors, and a variety of sensors."

It appears that Canadians are really eager for home automation services.

 

Putting the Vivint sale in perspective

Michael Barnes and George De Marco on the $2 billion valuation of Vivint, whether its growth plans are realistic, and its plans for expansion into commercial security
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09/19/2012

YARMOUTH, Maine—News today that the Blackstone Group, a $180 billion private equity firm, will acquire home automation and security company Vivint in an agreement worth more than $2 billion is another “huge shot of support for the industry,” Michael Barnes, founding partner of Barnes Associates, a consulting and advisory firm that specializes in the security alarm industry, told Security Systems News.

Vivint to be sold to Blackstone in $2 billion deal

CEO Pedersen: Vivint has plans to become one of the largest national players in commercial security
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09/18/2012

PROVO, Utah—Vivint has entered into an agreement with the Blackstone Group to be acquired in a deal worth “north of $2 billion,” Todd Pedersen, Vivint CEO, told Security Systems News.

Vivint adds $50 million to financing; surpasses RMR milestone

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08/06/2012

PROVO, Utah—Summer-model company Vivint announced in June of that it had surpassed a $30 million milestone in RMR, putting it among the top three largest security companies in the nation. Also, the residential security and home automation provider said it had added another $50 million to its financing, bringing its total senior debt financing to $812 million.

A Platinum Protection founder goes solar

 - 
Wednesday, April 4, 2012

Chance Allred, one of the founders of Platinum Protection, has come home to Vivint again—in a way.

Platinum, a summer-model sales company based in American Fork, Utah, in February this year abruptly laid off virtually all its employees and shut down its summer sales program. The company, founded in 2006, hasn’t talked publicly about the reasons why, but it appears to be in severe financial distress.

Since then, Vivint, a summer-model giant based in Provo, Utah, has hired about 130 of the unemployed Platinum sales reps, Vivint told me. It’s not clear what percentage of Platinum’s former sales force that represents, but it’s just 4 percent of Vivint’s sales force, that company said.

In addition, Allred in March was hired as VP of sales for Vivint Solar, a sister company of Vivint that offers residential customers the opportunity to purchase power generated by Vivint solar panels on their homes.

That’s kind of interesting because before helping to found Platinum, Allred used to work for APX Alarm, which is what Vivint was called before it rebranded last year to highlight the fact it offers home automation and other services beyond security.

Vivint branches out from security to solar

It creates new company to sell solar roof panels to customers door-to-door
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10/20/2011

PROVO, Utah—Vivint Solar, a new company created in June by the security/home automation Vivint—both of which are based here—is taking Vivint’s successful door-knocking model and employing it to sell solar panels to residential customers.

Pinnacle lawsuit: Ex-employees, consultant “conspired” to start rival company in Canada

However, one ex-employee has filed his own lawsuit, accusing Pinnacle of breach of contract
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08/25/2011

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.”

Vivint gets $125M increase in financing

The funds will fuel its home automation expansion
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04/07/2011

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.

Select Security gears up for summer

Egan: Selling for an in-state company should be easier sale
 - 
02/04/2011

LANCASTER, Pa.—Last summer, Select Security, a super-regional alarm company based here, successfully experimented with a summer model program to beat the big boys at their own game.
This summer, the company is going further: It is not only repeating its summer sales program but has hired sales representatives from some of the big companies to run it.

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