CE Pro February 2023 - 23

Networking+Home Control
SECURITY CORNER
NRG Buys Vivint Smart Home for $2.8B Cash
NRG ENERGY HAS ANNOUNCED a definitive agreement to
acquire Vivint Smart Home for $12 per share, or $2.8 billion
in an all-cash transaction. The buyout equates to 6.3X over
EBITDA. The agreement has been unanimously approved by
the boards of directors of both companies.
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), which benefits from attractive
terms and pricing. This consideration represents a premium
of approximately 33% to Vivint's closing share price on December
5, 2022 ($8.99 per share).
Vivint Smart Home, the No. 2 company in the CE Pro 100,
has nearly 2 million customers paying an average of $66.39
per month for monitoring of an average of 15 devices in the
home, ranging from intrusion alarms to video surveillance to
energy and lighting. NRG Energy has 7.4 million customers. It
has a proven track record of integration and synergy realization
across a number of acquisitions, including Direct Energy,
Stream and Xoom.
According to a statement from NRG, the acquisition accelerates
the realization of NRG's consumer-focused growth
strategy and creates " the leading essential home services
platform fueled by market-leading brands, unparalleled
insights, proprietary technologies, and complementary sales
channels. " The transaction improves and diversifies NRG's financial
profile, bringing its annual run-rate Adjusted EBITDA
Vivint has nearly 2 million customers paying for its smart
home installs and monitoring of systems including alarms,
video surveillance, energy and lighting.
to $835 million.
" Last year at our Investor Day, we presented our strategic
roadmap to becoming the leading provider of essential
services for homes and businesses, informed by consumer
trends and underpinned by disciplined execution, " says Mauricio
Gutierrez, president and CEO of NRG.
" The acquisition of Vivint is a transformational step in
achieving our vision. Customers want simple, connected,
and customized experiences that provide peace of mind.
Vivint's smart home technology strengthens our retail
platform, improves our customer experience, and increases
customer lifetime value. I am excited to welcome Vivint. "
Napco Expands Tech Support & Online Resources
NAPCO Security Technologies
recently announced it
has expanded its technical
support department and
made multiple new updates
to its headquarters-based
technical support department
operations and online
tech support library.
The company's tech
support team will now also
be integrated to enable
team members to handle
inquiries on the full range of
Napco security technologies
products in access control,
commercial fire, intrusion
and locking hardware,
cepro.com
assisted by a full-featured
interactive product knowledge
database that not
only summarizes prior calls
but also includes trainings
completed and notes from
customer interactions with
the Napco sales team for a
360-degree view.
Also announced, in addition
to dynamic hold-time
messaging, now instead of
hanging on the phone for
the next available Napco
tech, the company's customers
can take advantage
of a new callback option.
Integrators can choose
the option during a call
and will receive a call back,
retaining their spot in the
queue, and rest assured the
first available support team
member will call right back
on any number provided.
The website has added
the " What's New? " button,
to provide immediate access
to all newly released tech
documents. With product
and programming manuals
being added and often
updated, this feature offers
a quick solution to help
save time on any questions
that may arise - filtering
for the latest, greatest and
most popular docs instantly,
according to the company.
Debuting in 2023 is a new
Customer Self-Service Portal,
where security professionals
will have access to the active
product technical knowledge
base, built by Napco's team
of specialists to directly
answer their questions.
" We are constantly looking
for ways to improve our
customer experience. We're
committed to your success, "
says Dominic Macri,
senior director of technical
services, Napco.
February 2023 CE Pro | 23
http://www.cepro.com
CE Pro February 2023

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