The smart home security company Vivint has merged with Mosaic Acquisition Corp, resulting in the former company becoming publicly traded. The Vivint merger is one of the largest special purpose acquisition mergers in the history of the United States. The combined company, Vivint Smart Home, now has a value of $4.2 billion with $488 million more in equity, according to a recent press release. Beginning January 21, it will go under the symbol VVNT on the New York Stock Exchange. David Maura, Mosaic’s Executive Chairman and Chief Executive Officer, will join Vivint Smart Home’s Board of Directors. Maura said in the press release,
“In a market where it is difficult to find value, Vivint presents a unique opportunity to invest in the rapidly expanding home automation space… In contrast to many competitors, Vivint owns its entire data stack, and the company has built a competitive moat by seamlessly merging the digital and physical worlds.”
Related: Vivint Home Security System Review
Vivint Rated Most Worthwhile Security System
In a recent home security survey from Porch, a leading home services website, Vivint ranked fourth for “most worthwhile security company”. It was preceded by Brinks, Ring, and Arlo and ranked one above SimpliSafe. Some other conclusions from the survey included:
- On average, the survey’s respondents paid at least $100 more for their security systems when compared to their security cameras
- Vivint customers believed the products they bought were worth the money
- While 30% of the respondent’s systems did not include cameras, 44% had at least one security camera, while 26% of people had both a system and cameras.
- 62% of people check their security cameras daily, while 23.4% check weekly.
- The top three suspicious activities caught on security cameras were theft of packages, vandalism/ defacement of property and a home service worker going through a user’s belongings.
At this point, it’s unclear how Vivint will change its security offerings since it’s IPO and merger with Mosaic.
How much does Vivint cost per month?
If you want to self-monitor your system through the Vivint Smart Home app, you can avoid monthly fees. However,Vivint costs at least $39.99 per month if you want professional monitoring, remote control of your system, in-home technician service and a warranty for your equipment. For two cameras, the cost will increase to $49.99, three cameras for $54.99 a a month or a maximum of four cameras for $59.99 a month. Finally, if you want 14 days of cloud storage, the cost is an additional $5 per month per camera.
Is Vivint better than ADT?
Vivint and ADT are pretty comparable in terms of features, but while ADT has better professional monitoring than Vivint, Vivint wins for customer support and its app.
Can I cancel Vivint?
If you paid for your equipment up front, then you cancel Vivint, as you will have entered a monthly contract. However, if you financed your equipment, you won’t be able to cancel the contract until you have paid for your equipment in full.