Tag: Apx Alarm
Vivint: 'Disruptive innovation' key to success
January 30, 2013Tess Nacelewicz
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. And he said the company plans to build on that success with its recent hire of a prominent strategy consultant whose job it is to focus on such innovation.“We're making a bet that there's more opportunity to disrupt,” Dunn told Security Systems News regarding the hiring of Matthew Eyring...
This Blog's on Fire (And Other Stuff)
Vivint rapidly automating Canadian homes
December 5, 2012Tess Nacelewicz
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...
Putting the Vivint sale in perspective
September 19, 2012Martha Entwistle
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.“Blackstone has the opportunity and the ability to invest virtually anywhere...
Vivint to be sold to Blackstone in $2 billion deal
September 18, 2012Martha Entwistle
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.“We're pretty happy about it,” he said.The deal, which Security Systems News did some initial reporting on last week, is expected to close before the end of the year.Blackstone will buy out Vivint's current equity partners Goldman Sachs, Jupiter Partners and Peterson Partners. Vivint management,...
Vivint adds $50 million to financing; surpasses RMR milestone
August 6, 2012Tess Nacelewicz
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.That refinancing comes on the heels of a $72 million financing boost the company announced in February. It then had $762 million in total...
This Blog's on Fire (And Other Stuff)
A Platinum Protection founder goes solar
April 4, 2012Tess Nacelewicz
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...
Vivint branches out from security to solar
October 20, 2011Tess Nacelewicz
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.“It's the same philosophy and approach we have with security,” Tanguy Serra, president of Vivint Solar, told Security Systems News.Vivint Solar sold panels to about 200 homes in New Jersey since it started and now, with the infusion of...
Pinnacle lawsuit: Ex-employees, consultant “conspired” to start rival company in Canada
August 25, 2011Tess Nacelewicz
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.”
However, one of the ex-employees that Pinnacle is suing, Graham...
Vivint gets $125M increase in financing
April 7, 2011Tess Nacelewicz
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.
“We're excited,” Vivint COO Alex Dunn told Security Systems News April 5.
He said he believes it is “the largest syndicated bank debt deal in the (security) space.”...
Select Security gears up for summer
February 4, 2011Tess Nacelewicz
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.
Company president Patrick Egan said door-knocking sales representatives should have an advantage working for a traditional security company like...