Blackstone Group LP will buy home security provider Vivint Inc for over $2 billion, the companies said in a statement.

Reuters reported on Tuesday that Blackstone was nearing an agreement to buy Vivint.

A fund managed by Blackstone on behalf of its private equity investors will acquire Vivint from existing shareholders, including Goldman Sachs, Peterson Partners and Jupiter Partners.

Blackstone will buy Vivint Solar Inc and 2GIG Technologies Inc from respective shareholders in a deal expected to close before year-end.

(Reporting by Neha Alawadhi in Bangalore; Editing by Joyjeet Das)