Deals
NRG to Buy Vivint for $2.8 Billion in Bet on Smart Home Tech
- Deal is a further step away from generation business for NRG
- Company is pushing to focus more on consumers, home services
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NRG Energy Inc. agreed to buy Vivint Smart Home Inc. for $2.8 billion to accelerate the US power producer’s strategy of diversifying from its core electricity-generation business by focusing on retail consumers.
Vivint, based in Provo, Utah, sells smart thermostats, locks, lights and other household devices. NRG said Tuesday it will pay $12 a share in cash for Vivint, representing a premium of about 33% to the closing share price the day before.