Blackstone sets up $5.6B reverse merger for Vivint Smart Home
September 17, 2019
Blackstone has organized a reverse merger between Utah-based portfolio company Vivint Smart Home and Mosaic Acquisition, a special-purpose acquisition company trading on the NYSE that's backed by Fortress Investment Group, which is a subsidiary of SoftBank. The move will give Vivint an enterprise value of $5.6 billion; Blackstone acquired the provider of home automation services for more than $2 billion in 2012. Blackstone will invest $100 million in cash in the deal, and Fortress will contribute $125 million.