PROVO — Vivint founder and CEO Todd Pedersen has been named 2013 Entrepreneur of the Year by the MountainWest Capital Network, a Utah business networking organization.

Pedersen was the founder of APX Alarm in 1999, which later became Vivint. As CEO he was instrumental in obtaining credit agreements with Goldman Sachs in 2006 and 2009 to facilitate ongoing growth. Vivint was then acquired for $2 billion by The Blackstone Group in late 2012.

“My success as an entrepreneur stems from the fact that I love what I’m doing, and where we are trying to take this company. We are really having a lot of fun,” said Pedersen. “It’s incredibly rewarding to know that Vivint has carved a path in the tech industry, offering simple, affordable home automation and solar solutions for residents across North America.”

Vivint, based in Provo, has more than 3,200 employees with other business offices in South St. Paul, Minn., and Calgary, Alberta, Canada.