Simpson Thacher is representing Vivint Smart Home, Inc. (NYSE: VVNT) in connection with its acquisition by NRG Energy, Inc. (NYSE: NRG). NRG will acquire 100% of the outstanding equity of Vivint for a total transaction value of $5.2 billion, which consists of approximately $2.8 billion in cash and the assumption of $2.4 billion of debt (net of cash). The transaction is expected to close in the first quarter of 2023 and is subject to customary closing conditions.
NRG is a Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future.
Vivint is a leading smart home company in the United States. Vivint delivers an integrated smart home system with in-home consultation, professional installation and support delivered by its Smart Home Pros, as well as 24-7 customer care and monitoring. Dedicated to redefining the home experience with intelligent products and services, Vivint serves more than 1.9 million customers throughout the United States.
The Simpson Thacher team includes Eric Swedenburg, Elizabeth Cooper, Michael Chao, Ngozi Nezianya, Wang Chen, Haley O’Connor and Eric Schwed (M&A); Eli Isak and Cem Islikci (Banking and Credit); Jonathan Ozner and Arielle Katzman (Capital Markets); Greg Grogan, Alisa Tschorke, Guanxiong Xu (Executive Compensation and Employee Benefits); Sophie Staples, Edward Grais and Lina Pan (Tax); Lori Lesser, Melanie Jolson and Mark Natividad (Intellectual Property); Peter Guryan, Rick Jamgochian and Max Fischer-Zernin (Antitrust); and Michael Isby (Environmental).