Vivint Smart Home and Mosaic Acquisition Corp. Announce Merger Agreement

Vivint Smart Home Inc., a smart home technology company attempting to redefine the home experience through intelligently designed cloud-enabled solutions ranked No. 2 on the SDM 100, and Mosaic Acquisition Corp., a publicly traded special purpose acquisition company, have entered into a definitive agreement to merge Vivint with a subsidiary of Mosaic. Following the merger, Mosaic will be renamed “Vivint Smart Home Inc.” With an agreed initial enterprise value of $5.6 billion, Vivint is anticipated to have revenues of $1.3 billion for fiscal year 2020E and Adjusted EBITDA of $530 million, implying an Adjusted EBITDA multiple of approximately 10.5x.

Vivint is one of the largest smart home companies in the world, delivering integrated smart home products and cloud-enabled services to 1.5 million subscribers across 98 percent of the zip codes in the U.S., and in Canada. Vivint offers a comprehensive suite of smart home products along with professional installation, nationwide in-home service and 24/7 professional monitoring and customer care.