Sunrun Inc said on Monday it will buy Blackstone-backed peer Vivint Solar for about $1.46 billion in an all-stock deal, as the top U.S. residential solar installers look to solidify their market position.
The deal will also help Sunrun compete better with Tesla Inc’s SolarCity in a residential solar market, which, according to the companies, has reached only 3 percent penetration in the United States.
