NRG Completes Acquisition Of Vivint Smart Home, Inc.

NRG Energy, Inc. has completed its previously reported acquisition of Vivint Smart Home, Inc., effective today, which NRG described as, "accelerating the realization of NRG’s consumer-focused growth strategy and offering consumers simple, connected experiences to power, protect, and manage their homes intelligently."

With the addition of the Vivint customers, NRG now serves a network of approximately 7.3 million customers across North America that NRG said, "represents a substantial cross-sell opportunity through market-leading brands and complementary sales channels."

"This acquisition is the next step in our consumer services strategy," said Mauricio Gutierrez, NRG President and Chief Executive Officer. "Today, NRG is at the intersection of energy and home services, with a unique end-to-end smart home ecosystem underpinned by our exceptional customer experience."

Under the transaction, a total of approximately $2.6 billion in cash will be paid to holders of Vivint Common Stock as consideration for the merger.