Vivint has been providing smart home and Home Security Systems for users in North America. Vivint is an American company based in Provo, Utah, that offers a range of services such as smart home technology, security, and video doorbells, among others, to over 1. 7 million customers. As you ponder over these facts, you may be wondering who is behind this major home technology company. ?
A Vivint and its owners, along with the achievements made by the company at the time.
Vivint was founded in 1999 and is located in Provo, Utah; the company was founded by Todd Pedersen, Alex Dunn, and others under the name of APX Alarm Security Solutions. The company began by offering and installing conventional security systems physically on the doorsteps of Utah and other parts of the American West region.
The company only emerged in 2002 and was formerly known as APX before it rebranded as Vivint to embrace its smart home products and solutions. Vivint then went on to grow to a national level in the mid-2000s as a monitored security equipment and smart home services provider.
It is important to note that in 2012, Vivint was bought by The Blackstone Group, a private equity firm at over $2 billion. This move included a majority stake by Blackstone for Vivint, but Todd Pedersen and Alex Dunn agreed to maintain an ownership interest in the firm. Pedersen continued to function as the CEO of Vivint once the acquisition occurred while Dunn is currently the President of the company.
That means from 2012 to 2020, global investment firm Blackstone Group was the main owner of Vivint through a range of investment funds. Also, while Pedersen and Dunn and other officials kept a small stake in the company, Blackstone controlled more than 97 percent of the stock.
Vivint said in January 2020 that it was going public via a merger with a SPAC business called Mosaic Acquisition Corp. The newly combined publicly listed company will be called Vivint Smart Home Inc. and trade under the symbol VVNT once combined.
The merger was completed in June 2020 and it made Vivint Smart Home a public limited company, listed on the New York Stock Exchange. This was possible because, to existing clients and partners, Vivint was still operationally the same smart home company that it had always been, but it was financially different due to the new capital it was able to mobilize.
Current Ownership Structure
Now that Vivint Smart Home is publicly traded on the stock exchange, ownership of the company is divided between the following groups: Now that Vivint Smart Home is publicly traded on the stock exchange, ownership of the company is divided between the following groups:
The current owners of Vivint Smart Home today are
- Public investors (58% ownership)
- The major shareholder of Dell is The Blackstone Group holding 38 percent of the company’s shares.
- Professional managers or directors of the company ( 3-4 % ownership)
This diffused ownership structure has ensured that Blackstone Group (the longtime majority shareholder) still has the power to influence Vivint even as the company floats stock in public markets to raise capital.
The company is still managed by Todd Pedersen, its long-time CEO, with support from President Alex Dunn and other professionals from Vivint. Both Pedersen and Dunn have been integral to Vivint since the latter’s inception in 1999 in the form of an alarm company.
Vivint Business Today
Vivint has leveraged the increase of capital from both the Blackstone acquisition and public listing to sustain and gain consistent growth over the past ten years to become one of the major players in the industry.
Currently, Vivint is providing home services to over one point seven million clients in the United States and Canada only. This firm has a workforce of approximately 10,000 employees and most of them are in sales and service hence are needed in installing and servicing Vivint systems.
These packages have also grown way beyond traditional home security and now encompass smart home solutions from Vivint.
• Smart security systems • Video doorbell cameras • Smart thermostats • Automated door locks • Google Assistant and Amazon Alexa – voice control • Lighting controls • Smoke detectors • Carbon monoxide sensors • Water leak sensors • Touchscreen control panels
Customers have the option of choosing which vibrant smart home packages and prices suit them best as offered by Vivint. This is because packages in structures call for professional advice and are installed in structural manners. Every Vivint system also benefits from 24/7 professional monitoring through one of the company's monitoring centers.
However, besides home consumers, Vivint offers services to business entities, local and federal government departments, and property owners with their customized automation, security, and monitoring services all of which enjoy customer support services that are provided on a 24/7 basis.
In 2020, the company recorded over $1. 3 billion in revenue as it graced some of the most successful years in its history. But as smart homes keep on rising its popularity, the current homeowners such as public stock investors and Blackstone view more opportunities for Vivint’s additional expansion across North America.
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