Vivint Smart Home’s Merger With Mosaic Acquisition Corp.

Simpson Thacher represented Vivint Smart Home, Inc. in connection with its merger agreement with Mosaic Acquisition Corp.

Following the merger, the merged company is anticipated to have an initial enterprise value of approximately $5.6 billion and an initial market capitalization of approximately $3.1 billion. Blackstone and other existing investors of Vivint are expected to own approximately 78% of the outstanding shares of Vivint immediately following the merger. The transaction is expected to be completed during the fourth quarter of 2019 or the first quarter of 2020, subject to approval by Mosaic and Vivint stockholders and other customary closing conditions.

Vivint is a leading smart home company in North America. 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 1.5 million customers throughout the United States and Canada.

J.P. Morgan Securities LLC, Evercore and Blackstone Capital Markets acted as financial advisors and capital markets advisors to Vivint. Deutsche Bank Securities, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and RBC Capital Markets LLC acted as financial advisors and capital markets advisors to Mosaic.

Simpson Thacher & Bartlett LLP acted as legal counsel to Vivint. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to Mosaic. Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal counsel to Fortress.

The Simpson Thacher team includes Elizabeth Cooper (Picture), Wilson Neely, Michael Chao, James Nguyen, Donovan Westbrook and Brian Kloeblen (M&A); Igor Fert, Ben Heriaud, Camilla Johnson and Juan Gonzalez (Capital Markets); Greg Grogan, Alisa Tschorke and Jason Fixelle (Executive Compensation and Employee Benefits); Amanda Weiss and James Rapp (Public Company Advisory Practice); Drew Purcell, Sophie Staples, Abigail Hopper and Brian Mendick (Tax); Genevieve Dorment (Intellectual Property); Richard Jamgochian, Ellen Frye, Kelly Karapetyan and Ken Ehrhard (Antitrust); and Steve DeLott (Insurance).

Involved fees earner: Michael Chao – Simpson Thacher & Bartlett; Elizabeth Cooper – Simpson Thacher & Bartlett; Steven DeLott – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Kenneth Ehrhard – Simpson Thacher & Bartlett; Igor Fert – Simpson Thacher & Bartlett; Jason Fixelle – Simpson Thacher & Bartlett; Ellen Frye – Simpson Thacher & Bartlett; Juan Gonzalez – Simpson Thacher & Bartlett; Gregory Grogan – Simpson Thacher & Bartlett; Benjamin Heriaud – Simpson Thacher & Bartlett; Abigail Hopper – Simpson Thacher & Bartlett; Richard Jamgochian – Simpson Thacher & Bartlett; Camilla Johnson – Simpson Thacher & Bartlett; Kelly Karapetyan – Simpson Thacher & Bartlett; Brian Kloeblen – Simpson Thacher & Bartlett; Brian Mendick – Simpson Thacher & Bartlett; Wilson Neely – Simpson Thacher & Bartlett; James Nguyen – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; James Rapp – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Alisa Tschorke – Simpson Thacher & Bartlett; Amanda Weiss – Simpson Thacher & Bartlett; Donovan Westbrook – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Vivint Smart Home;