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Direct Energy announced that they have reached an agreement to acquire Bounce Energy for US$46 million in cash plus additional working capital. The acquisition of Bounce Energy will make Direct Energy the largest energy retailer in North America.

Bounce Energy is the provider of full-service electricity to more than 80,000 residential and small business customers in the competitive energy markets of Texas, Pennsylvania and New York. Direct Energy will leverage the Bounce Energy expertise in digital marketing which is terms as the best in class e-commerce platform in the attempt to increase its digital sales and service capabilities and to accelerate customer growth in the United States. The online platform of Bounce Energy is also expected to reduce Direct Energy's cost for acquiring new customers.

Bounce Energy was founded in 2008 by CEO Robbie Wright, a veteran e-commerce entrepreneur, and six other founders. The company is the leader in e-commerce, online digital marketing and customer interaction on social media, and was the first electricity company to offer its services through Facebook.

Badar Khan, President and CEO of Direct Energy said, "The further expansion of our residential business is an essential component of our North American growth strategy. The acquisition of Bounce Energy will provide customers with more innovative, efficient and competitive energy services options."

Steven Murray, President of Direct Energy Residential commented, "We are always looking for new ways to enhance our customers' experience and satisfaction. 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."

"Direct Energy is the ideal organization with which to expand our e-commerce platform and digital marketing capabilities," said Robbie Wright, CEO of Bounce Energy. "Its solid financial foundation and the scope of its operational footprint will allow for greater expansion into new U.S. markets to offer customers more competitive energy rates and exceptional customer service."