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Bloomberg
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, based in Provo, Utah, sells smart thermostats, locks, lights and other household devices. NRG said on Tuesday it will pay $12 a share in cash for Vivint, representing a premium of about 33% to the closing share price the day before.
The deal will increase NRG Energy’s customer base to about 7.4 million across North America.