VVNT - VVNT STOCK NEWS

Vivint Smart Home (NYSE: VVNT), a leading smart home company, received the title of “Home Security Company of the Year” at the seventh annual IoT Breakthrough Awards. The awards program highlighted top innovators in the Internet of Things sector, receiving over 4,000 nominations globally. James Johnson, Managing Director at IoT Breakthrough, praised Vivint’s innovative products that not only alert homeowners during emergencies but also take proactive measures to prevent damage. CEO David Bywater acknowledged the recognition as a testament to their commitment to redefining smart home standards.

Summit Partners, a prominent alternative investment firm, has announced the promotion of 14 professionals across its global offices. Scott Ferguson, Paul Furer, Mark Nordstrom, Dayton Ogden, and Sophia Popova have been elevated to Partner, while Chris Bon, Ali Dowd, Mark Hexamer, Chelsea Jurman, Nick Oppedisano, and Jono Pagden have become Principals. Jonathan Gilman, Andy Lee, and Irina Müller have been promoted to Vice President. The firm manages over $35 billion in capital, investing across various growth sectors globally.

Vivint Smart Home (NYSE: VVNT) highlights a strong year of charitable contributions through its Vivint Gives Back program, impacting over 6,000 lives globally and raising nearly $3 million. Key initiatives included raising over $300,000 for Ukrainian refugees and sending over 1,000 underrepresented K-12 kids to STEM camps. Additionally, 600 employees participated in humanitarian trips, completing 70 projects in Costa Rica. The Sub for Santa program benefited over 3,000 children this holiday season with donations exceeding $400,000.

Vivint Smart Home (NYSE: VVNT) celebrates its 15th year of the annual Sub for Santa program, aiming to support over 3,500 children across 75 locations with projected donations exceeding $425,000. This initiative, started by employees in 2008 and now under Vivint Gives Back, continues to engage current and former staff in volunteering and fundraising. The program partners with schools in Utah to provide essential gifts to low-income families, including clothes, books, and food, fostering community support and holiday cheer.

NRG Energy has announced a definitive agreement to acquire Vivint Smart Home for $12 per share, totaling $2.8 billion in an all-cash transaction. This move positions NRG as the leading provider of essential home services, leveraging Vivint's smart home platform, which serves nearly two million customers. The acquisition is expected to enhance NRG's financial profile with an estimated annual run-rate Adjusted EBITDA of $835 million, including $100 million in anticipated synergies. The deal has unanimous board approval from both companies and is set to close in Q1 2023, subject to customary conditions.

Vivint Smart Home (NYSE: VVNT) has introduced a new feature for its Smart Energy customers, allowing them to monitor solar energy production and environmental impact through the Vivint app. This integration provides customers with data on energy generation, savings compared to grid energy, and environmental benefits. Initially available to users with Enphase and SolarEdge inverters installed by Freedom Forever, this feature enhances the smart home experience and aims to empower customers with valuable energy usage insights.

Vivint Smart Home (NYSE: VVNT) has announced plans to meet with investors during the 2022 RBC Capital Markets Global Technology, Internet, Media and Telecom Conference in New York City. The event is scheduled for November 16, 2022, and will take place at the InterContinental New York Barclay. Throughout the day, the company will conduct 1x1 and small group meetings with attendees. Vivint, serving over 1.9 million customers in the U.S., aims to deliver a comprehensive smart home experience through its integrated systems.

Vivint Smart Home (NYSE: VVNT) has launched the Vivint Repair: Water Sensor Experience, a no-cost service aimed at reducing costs associated with water emergencies. This service connects customers to trusted cleanup services upon detection of water leaks, enhancing mitigation efforts. Currently available to customers in four states—Texas, Louisiana, Georgia, and Florida—it promises faster response times, potentially lowering average water damage claims, which can exceed $11,000.