Mosaic Acquisition to buy Vivint Smart Home

Mosaic Acquisition Corp is buying Vivint Smart Home in a deal that will create a merged company with an initial enterprise value of approximately $5.6 billion. Vivint provides 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. Blackstone is investing $100 million in cash, while Fortress Investment Group is providing $125 million cash. Mosaic Acquisition is the blank check company from David Maura, the former chairman of Spectrum Brands Holdings and managing director of hedge fund Harbinger Capital Partners.

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