Retail electricity provider Direct Energy bought Houston-based Bounce Energy for $46 million, the two companies announced Friday.
Direct Energy, a national energy and energy-related services company, purchased the privately-held retailer, planning to use Bounce Energy’s digital marketing and e-commerce skills to grow its national market.
Direct Energy recently moved its headquarters to Houston.
“We are always looking for new ways to enhance our customers’ experience and satisfaction,” said Steven Murray, President of Direct Energy Residential. “Bounce Energy’s digital marketing insights and e-commerce platform will bolster our capabilities as we expand our product offerings to current and potential customers.”
Read more: Direct Energy looking to buy retailers
Bounce Energy provides electricity to more than 80,000 residential customers in Texas, Pennsylvania and New York, but has built its profile and reach far beyond that, creating an online presence that has significantly reduced the cost of acquiring new customers.
“Bounce Energy has more than 111,000 ‘Likes’ on Facebook, making it among the most liked electricity companies on Facebook,” Direct Energy wrote in a written statement, explaining the deal. “Earlier this year, Bounce Energy launched a ‘Build Your Own Energy Plan,’ the first of its kind in the electricity industry, which allows customers to choose plan length, green energy percentage, billing options and rewards programs.”
The proposed deal is being reviewed by regulators and is expected to close in the third quarter of 2013.
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