FILE: The Vivint Arena in Salt Lake City is pictured on Tuesday, May 24, 2022. (Kristin Murphy, Deseret News)
SALT LAKE CITY — The Provo-based solar and home security company Vivint Smart Home has announced in a press release that they will be acquired by NRG Energy in a $2.8 billion deal.
In the press release David Bywater, CEO of Vivint Smart Home said, “We are pleased to announce a transaction that delivers immediate and compelling cash value to Vivint’s stockholders while also presenting significant opportunities to drive our company’s continued success in the years to come.”
NRG is a Houston-based energy company. In the press release, NRG is described as, “a Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future.”
The transaction is expected to close in the first quarter of 2023, according to the press release.
There is currently no word on how this will affect the naming rights for the home of Utah Jazz at this time.
This story will continue to be updated.