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SoftBank subsidiary acquires Vivint Smart Home in hushed reverse merger

Vivint Smart Home has announced that it is merging with Mosaic Acquisition Corp, itself an acquisition vehicle formed by Mosaic Sponsor and Fortress Mosaic Sponsor, in which the latter is a firm formed by the SoftBank subsidiary Fortress Investment Group. In what seems to be a trend, SoftBank is wrapping itself up in a complex transaction, but one which does at least paint a good picture for the smart home sector. After the deal, Mosaic Acquisition Corp will be changing its name to Vivint Smart Home Inc, and the pair say that the new entity will have an enterprise value of $5.6bn, a market cap of $3.1bn, with annual revenues of $1.3bn and adjusted EBITDA of $530mn. Vivint will then…

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