Vivint, a leading provider of smart home technology, today announced the acquisition of Space Monkey, an innovative cloud storage company. Space Monkey uses a peer-to-peer network, rather than a data center, to offer greater speed, security and cost savings for personal storage.

The acquisition supports the growth and development of the Vivint Sky smart home platform.

Vivint recently introduced the Vivint SkyControl panel, which features proprietary cloud technology that learns from homeowners’ behaviors and makes intelligent suggestions to add new levels of convenience and control over the home.

“It’s a natural fit for us to be a part of Vivint’s technology for the smart home,” said Clint Gordon-Carroll, co-founder of Space Monkey. “We look forward to working with Vivint as we continue to innovate and invest in the product.”

Entrepreneurs Clint Gordon-Carroll and Alen Peacock founded Space Monkey in 2011 as an alternative to data center storage, which requires high power, cooling, infrastructure and bandwidth costs.

Space Monkey offers both a local storage and remote network backup for higher levels of data security and redundancy.