Sunrun Acquiring Vivint in Shake-Up of Home Solar Market

Sunrun, the nation’s largest residential solar company, announced on Monday evening that it was acquiring a leading competitor, Vivint Solar, to form one of the world’s largest providers of solar equipment.

If approved, the all-stock deal would create a company with about 500,000 customers, Sunrun said in a statement. Board members of both companies unanimously approved the deal, it said.

Sunrun said the deal had an enterprise value — that is, including the assumption of debt — of $3.2 billion.

“Vivint Solar adds an important and high-quality sales channel that enables our combined company to reach more households and raise awareness about the benefits of home solar and batteries,” Lynn Jurich, Sunrun’s chief executive and co-founder, said in the announcement.

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