 | |
| Company type | Subsidiary |
|---|---|
| NYSE: VVNT (2020–2023) | |
| Industry | Security systems,fire detection,home automation |
| Founded | 1997; 28 years ago (1997) (as APX Alarm Security Solutions) |
| Founder | |
| Headquarters | Lehi, Utah, U.S. |
Key people |
|
| Revenue |  US$1,682 million (2022) |
| US$−154 million (2022) | |
| US$−51 million (2022) | |
| Total equity |  US$1,702 million (2022) |
Number of employees | 12,000 (2022) |
| Parent | NRG Energy |
| Website | vivint |
| Footnotes / references Financials as of December 31, 2022[update]. References:[1] | |
Vivint Smart Home, Inc. anNRG company, is United States-based smart home and security provider delivering an integrated smart home system with in-home consultation, installation and support, and monitoring. Vivint offers a range of integrated smart home and security products, including cameras, locks, safety sensors,thermostats, lighting, managed through the Vivint Smart Hub and mobile app.[2]
As of 2024, Vivint has over two million customers across all fifty states with more than 27 million devices managed. The company employs more than 12,000 people in the US, holds more than 400 patents, and performs approximately 500,000 professional installations or upgrades annually.[3]
In 1999,Keith Nellesen andTodd Pedersen co-founded APX Alarm Security Solutions inLehi, Utah.[4][5] At the time, the company sold and installed security systems.[4] APX Alarm Security Solutions rebranded as Vivint in February 2011.[4][6] Vivint was acquired byThe Blackstone Group in November 2012.[7]
The company launchedVivint Solar, a solar energy company, in 2011.[8] Vivint Solar went public in October 2014 and was later purchased bySunrun.[9][10]
Vivint's former CEO Todd Pedersen appeared on theCBS television showUndercover Boss in February 2015.[11]
In January 2020, Vivint completed a merger with Mosaic Acquisition Corp. and became a publicly traded company on the New York Stock Exchange.[12]
In December 2022,NRG announced the acquisition of Vivint Smart Home for $2.8 billion in cash, adding home security and automation to its offerings, expected to close on the first quarter of 2023.[13]
Vivint offers home security products, including doorbell cameras, smart thermostats, indoor cameras, and integrations with lighting.[14][15][16][17][18] In 2019, Vivint launched products for car security, and outdoor home security cameras.[18][19]
In 2017, Vivint announced a partnership withAirbnb to allow hosts to integrate Airbnb accounts with Vivint products.[20] In 2018, Vivint collaborated withGoogle to include two Google Home Mini devices in starter kits.[21]
In February 2014, the company donated $1 million to theUtah Valley University, along with a $1 million investment from Vivint's CEO, to establish a professional sales program and a SMART Lab for marketing research.[22][23]
In 2015, Vivint became the official safety sponsor forAutism Speaks.[24] Between 2015 and 2023, Vivint acquired thenaming rights to rename theUtah Jazz's home arena toVivint Arena, where in April 2018 Vivint added a new sensory room at the arena for children withautism spectrum disorder.[25][26]
In 2023, under the Vivint Gives Back program the company's employees packed and delivered 40,000 meal kits in cooperation with the Granite Education Foundation for children.[27]
The 2017J.D. Power 2017 Home Security Satisfaction Study ranked Vivint as the "Highest in Home Security Customer Satisfaction" among home security brands.[28] The 2020 Home Security Satisfaction Study ranked Vivint second, behindAT&T Digital Life.[29]
Prior to its acquisition by NRG, Vivint settled lawsuits withArkansas,Oregon,Ohio, andNebraska[30][31] along with two class-action lawsuits for alleged violations of theTelephone Consumer Protection Act of 1991.[32][33][34][35] In 2018, ADT agreed to a $10 million settlement with Vivint after ADT claimed agents misled nearly 1,000 customers to sign up.[36][37]
In May 2021, Vivint was fined $20 million for violations of theFair Credit Reporting Act underFederal Trade Commission Act of 1914 when sales representatives used the names and identities of people without their consent in the place of customers who failed credit checks. Vivint then sold the debt to collectors in violation of the FTC'sRed Flags Rule.[38][39]
In December 2021, CPI Security alleged that Vivint sales representatives used deceptive tactics to acquire CPI's customers, including claiming that Vivint acquired CPI.[40][41] In March 2022, Vivint paid $400,000 in penalties and restitution after theArizona Attorney General alleged Vivint's sales representatives used deceptive marketing practices, including false representations of Vivint services, false claims that the customer's security company was being bought by Vivint, and non-consensual extensions of contracts.[42][43]
This article incorporatespublic domain material from websites or documents of theUnited States Department of Justice."Vivint Smart Home to Pay $20 Million for Violating the Fair Credit Reporting Act".www.justice.gov. 2021-04-29. Retrieved2021-05-10.
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