Weston Colton, All
Our take: Local home security firm Vivint is contending a sale that could value as much as $2 billion.
Vivint, which provides home technology and automation services, is exploring a sale that could value it at as much as $2 billion, and has drawn interest from three private equity firms, according to people familiar with the matter.
Buyout firms Blackstone Group LP (BX.N), Ares Management LLC, and GTCR LLC are weighing bids for the company, with the auction well into the second round, the people said.
Vivint is working with Bank of America Merrill Lynch (BAC.N) and Citigroup (C.N) to find a buyer and final bids for the company are due later in September, according to one of the people.
Read more about Home security firm Vivint mulls possible $2 billion sale: source on Reuters.