NRGs Vivint Deal Puts US Power Producer on Home-Automation Path
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The Issuer irrevocably deposited funds with the applicable trustee and/or paying agent to effect the redemptions and to satisfy and discharge all of the Issuer’s remaining obligations under the indentures governing each series of the Redeemed Notes. The refinancing transactions extended the weighted average maturities on Vivint’s outstanding indebtedness by approximately 3.5 years and are expected to reduce annual interest expense by approximately $50 million. Learn what our customers are saying about the Vivint app. "Vivint Smart Home, CPI Security deceptive practices trial to get underway". "ADT Bid to Block Imports of Vivint Systems to Be Probed at ITC". From 2009 through 2014 the company settled lawsuits with the states of Arkansas, Oregon, Ohio, and Nebraska.
The deal marks another example of how home automation and electrification are upending the power industry. — 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. 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 offers home security products, including doorbell cameras, smart thermostats, indoor cameras, and integrations with lighting. In 2019, Vivint launched products for car security, and outdoor home security cameras. In March 2022, Vivint settled a case with the state of Arizona to pay $325,000 in penalties, and $75,000 in restitution.
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In 2017, Vivint announced a partnership with Airbnb to allow hosts to integrate their Airbnb account with Vivint products. In 2018, Vivint collaborated with Google to include two Google Home Mini devices in their starter kits. The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws. The Notes may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes were offered, by the initial purchasers, only to persons reasonably believed to be “qualified institutional buyers” in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain non-U.S. Persons in offshore transactions in reliance on Regulation S.
In 2018, Vivint agreed to a $10 million settlement with ADT after ADT claimed that Vivint agents had fraudulently signed up ADT’s customers to Vivint contracts. According to ADT they received nearly 1,000 complaints by its customers over the practice. Vivint has been the target of many lawsuits for its deceptive marketing and direct sales practices. Vivint has also both sued, and been sued by, ADT Inc. over allegations of patent infringement.
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The Houston-based company expanded in the retail sector with its purchase of Centrica Plc’s Direct Energy unit for $3.6 billion, a deal it completed in 2021. NRG is one of the largest US independent power producers and operates a fleet of natural gas, coal and other generating plants totaling 18 gigawatts. It’s also one of the biggest retail electricity providers in Texas.
Financing eligibility and terms subject to credit approval by one of Vivint’s third-party financing partners. Qualified customers may finance equipment purchase at 0% APR for up to 60 months. Month-to-month service agreement available when equipment is purchased upfront. As a lender, administrative agent and collateral agent. System supports up to six cameras subject to sufficient WiFi speeds.
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Protect your home’s perimeter and your deliveries with intuitive outdoor security cameras that intelligently identify and deter real threats. Pick your package and we’ll handle the rest—from professional installation to around-the-clock support when you need us most. Vivint Smart Home Inc. sales agents regularly harm competitor CPI Security Systems Inc. by posing as CPI representatives and making false sales pitches to its customers, a new lawsuit in a North Carolina federal court alleges.
Vivint was acquired by The Blackstone Group in November 2012. With the Vivint Doorbell Camera Pro and smart locks as part of your system, answer the door with the Doorbell Camera, let visitors in your home with Smart Locks, and lock up when they leave. Combine peace-of-mind protection with smart home automation for added security and convenience. Enjoy the ease of a thermostat that auto-adjusts, and lock up from anywhere—without a key in sight. In December 2021, Vivint was sued by CPI Security over allegations that Vivint sales representatives used deceptive tactics to acquire CPI's customers, including claiming that Vivint was buying out CPI.
In 2014, Vivint settled two federal class-action lawsuits for alleged violations of the TCPA. If an alarm is triggered or danger is detected at home, you’ll be alerted through the Vivint app. With instant notifications, you’ll always know what’s happening in and around your home. The information you requested is not available at this time, please check back again soon.
Smart control in the Vivint app allows you to manage lighting and temperature, monitor live and recorded security camera footage, interact with visitors at your doorstep, or lock up and arm your system while you’re away. NRG said it plans to complete its current $1 billion share-buyback program, of which $360 million remained at the end of November. For next year, it expects to use excess free cash flow to fund the Vivint takeover, cut debt related to the acquisition and maintain dividend growth.
Set your doors to lock or automatically adjust the temperature at specific times. The Vivint app allows you to manage your Vivint system from anywhere. Just download the app on your mobile device and follow the setup instructions.
This browser does not support the HTML5 video element. Every Vivint home security system features our exclusive Smart Deter technology, engineered to intelligently identify and deter real threats, using light and sound to scare away lurkers before they become burglars.
Managing residential power usage will be critical to keep US grids stable when demand is set to spike with greater adoption of electric vehicles amid a broader transition away from fossil fuels. Deploying technology within homes could help neighborhoods pool excess power to reduce stress on the grid and reward households with payouts. EV automaker Tesla Inc., for instance, has been pushing to tap rooftop solar systems and batteries to create such “virtual” power plants in Texas. If you have standalone devices, you’ll need a separate app to control each of them.
Vivint Smart Home serves customers in the United States and Canada. All of our security and automation devices work together in a fully-integrated system that you manage from the Vivint app. Enjoy alarm control, smart locks, lights, cameras, and thermostats that all connect on one simple platform. Qualifying system purchase requires minimum $599.99 equipment purchase, professional installation and applicable services agreement. DIY system purchases and reactivations of previously-installed systems not eligible for offer. Equipment purchase may be financed separately subject to an agreement with one of Vivint’s third-party financing partners.
Once everything is connected, you’re carrying complete control of your smart home in the palm of your hand. Our certified Smart Home Pros deal with wiring, syncing devices, and placement, ensuring that every door, window, and blind spot is covered. Professional installation is included in your smart home package. This isn’t Vivint’s only case at the trade agency in Washington.
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