Direct Energy To Acquire Bounce Energy For $46 Million

            Direct Energy To Acquire Bounce Energy For $46 Million

Deal Bolsters Company's North American Residential Energy Business, Digital
Marketing and E-Commerce Capabilities

PR Newswire

HOUSTON, July 12, 2013

HOUSTON, July 12, 2013 /PRNewswire/ --Direct Energy, one of North America's
largest competitive energy and energy-related services companies, has reached
an agreement to acquire Bounce Energy, a privately-held retail electricity
provider based in Houston, for $46 million in cash plus additional working


The acquisition of Bounce Energy further strengthens the company's residential
business as the largest energy retailer in North America. Bounce Energy
provides 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 look to leverage Bounce Energy's expertise in
digital marketing and best in class e-commerce platform to increase its
digital sales and service capabilities and to accelerate customer growth in
the United States. This online platform is also expected to reduce
significantly Direct Energy's cost of acquiring new customers.

Bounce Energy, one of the fastest growing deregulated energy companies, was
founded in 2008 by CEO Robbie Wright, a veteran e-commerce entrepreneur, and
six other founders. The company leads the way in e-commerce, online digital
marketing and customer interaction on social media, and was the first
electricity company to offer its services through Facebook. Currently, Bounce
Energy has more than 111,000 "Likes" on Facebook, making it among the most
liked electricity companies on Facebook. 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. In 2012, Bounce
Energy was ranked second in a Texas retail electricity provider customer
satisfaction survey by J.D. Power and Associates.

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

"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."

"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

The transaction is subject to regulatory review and is expected to close in
the third quarter of 2013.

About Direct Energy

Direct Energy is one of North America's largest energy and energy-related
services providers with over six million residential and commercial customer
relationships. Direct Energy provides customers with choice and support in
managing their energy costs through a portfolio of innovative products and
services. A subsidiary of Centrica plc (LSE: CNA), one of the world's leading
integrated energy companies, Direct Energy operates in 46 states plus DC and
10 provinces in Canada. To learn more about Direct Energy, please visit

About Bounce Energy

Bounce Energyis a privately-owned and full-serviceTexas electricity company,
offering affordable, comprehensive and innovative plans to help customers
easily manage their electricity service. As one of the fastest growing Texas
electric companies, Bounce Energy differentiates by providing "more than
electricity" with a superior rewards program, additional consumer-centric
offers, a surplus of customer service touch points and more. Bounce Energy's™
internally designed technology includes applications for customer billing,
product management, website and content management, partner management and
tracking, a multi-family portal, customer behavioral marketing, reporting, and
analytics. Follow them at

SOURCE Direct Energy

Contact: Micah Hirschfield, Direct Energy,,
713-877-3805; Will Briganti, RLM Finsbury,,
Press spacebar to pause and continue. Press esc to stop.