Fried Frank acted as counsel to affiliates of Fortress Investment Group LLC, a subsidiary of SoftBank Group Corp., in their US$125 million investment into the definitive merger of Vivint, Inc. and Mosaic Acquisition Corporation. The transaction has an agreed initial enterprise value of US$5.6 billion. Vivint is one of the largest smart home companies in the world, delivering integrated smart home products and cloud-enabled services. Mosaic Acquisition Corp. is a special purpose acquisition company formed by Mosaic Sponsor, LLC and Fortress Mosaic Sponsor LLC for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The transaction is expected to be completed during the fourth quarter of 2019 or the first quarter of 2020.
The Fried Frank team was led by corporate partner Andrew J. Colosimo and included corporate partners Lee T. Barnum, Andrea Gede-Lange, and Warren S. de Wied; partner Scott B. Luftglass; tax partner Christopher Roman; antitrust and competition special counsel Aleksandr B. Livshits; corporate special counsel Adam J. Ross; corporate associates Shanta Chirravuri, Juliette N. Rafael, and Matthew E. Sadofsky; and tax associate Ryan L. Conley.