Inside Sunrun and Vivint Solar's historic $3.2 billion deal - Business Insider

While the deal happened over a few short months and countless video calls, Sunrun had been thinking about partnering with Vivint four nearly four years.

Through interviews with Sunrun's CEO and CFO, in addition to a recent public filing, we pieced together how the deal came together. The race to buy Vivint Solar was bound, almost entirely, by a few short months in the coronavirus pandemic. "Back in the 2016 timeframe, I think we both recognized that the two companies have really complementary customer reach," Sunrun's CEO, Lynn Jurich, told Business Insider. A complementary approach to acquiring new customers — one of the industry's biggest costs — is a key reason behind the proposed acquisition, Jurich said.

Though details are sparse, the public filing reveals that Sunrun and Vivint execs met with each other between late 2016 and mid-2018 to discuss the benefits of a merger, but no specific terms were discussed at that time. At the beginning of the year, following interest from several buyers, Vivint Solar kicked off a formal bidding process, in lieu of striking a deal with one of its existing suitors.

Two bidders ended up pulling out, citing the pandemic, leaving Sunrun and two other firms, which submitted a joint indication of interest, locked in a bidding war that played out virtually from April through June. "We have the opportunity to really get more batteries out there at a bigger scale, so we can build these virtual power plants," Jurich said. Mergers often spark concerns of layoffs, as certain jobs might become redundant.

Gold shortages are here and increasing. Sandstorm Gold is going to have INCREDIBLE cash flow for next decade. $1800+ Gold spot price certainly does not hurt!

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Inside the French Riviera's pandemic party problem - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Houston we have a problem.... or in this case, France. 25 guys and only one woman, huge problem.
Fonte: BusinessInsider - 🏆 729. / 51 Consulte Mais informação »

Inside Benetti's 353-foot hybrid gigayacht 'Luminosity' - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I may be mistaken but I think it's currently docked in Portofino, Italy. My offer, 1 Bitcoin
Fonte: BusinessInsider - 🏆 729. / 51 Consulte Mais informação »

Inside Orum House, the Bel Air mansion shaped like a propeller: photos - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Wowed by this house!
Fonte: BusinessInsider - 🏆 729. / 51 Consulte Mais informação »