March 10, 2023
Acquisition Accelerates Company’s Growth Plan, at-Value, and Brings Customers a Unique Whole Home Experience
HOUSTON -- NRG Energy, Inc. (NYSE: NRG) completed its acquisition of Vivint Smart Home, Inc., effective today, accelerating the realization of NRG’s consumer-focused growth strategy and offering consumers simple, connected experiences to power, protect, and manage their homes intelligently. The acquisition improves and diversifies NRG’s financial profile while also expanding the total market opportunity available to NRG.
“This acquisition is the next step in our consumer services strategy,” said Mauricio Gutierrez, NRG President and Chief Executive Officer. “Today, NRG is at the intersection of energy and home services, with a unique end-to-end smart home ecosystem underpinned by our exceptional customer experience. I am excited to welcome Vivint into the NRG family.”
The company now features a larger customer footprint, serving a network of approximately 7.3 million customers across North America that represents a substantial cross-sell opportunity through market-leading brands and complementary sales channels.
NRG’s leadership in energy markets combined with Vivint’s tech-forward smart home solutions come together as a platform to provide additional opportunities to serve customers with products and services across power, natural gas, and essential home services segments.
NRG Energy is a leading energy and home services company powered by people and our passion for a smarter, cleaner, and more connected future. A Fortune 500 company operating in the United States and Canada, NRG delivers innovative solutions that help people, organizations, and businesses achieve their goals while also advocating for competitive energy markets and customer choice. More information is available at www.nrg.com. Connect with NRG on Facebook and LinkedIn, and follow us on Twitter, @nrgenergy.
Vivint is a leading smart home company in the United States. Vivint delivers an integrated smart home system with in-home consultation, professional installation and support delivered by its Smart Home Pros, as well as 24-7 customer care and monitoring. Dedicated to redefining the home experience with intelligent products and services, Vivint serves more than 1.9 million customers throughout the United States. For more information, visit https://www.vivint.com.