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Choose Energy Acquires Competing Online Energy Shopping Platform, Business
Choose Energy announced today that is has acquired Power2Switch, a competitor in the online energy shopping and brokering business.
Terms were not disclosed.
"Power2Switch has a stellar reputation and has made an enviable footprint in the Illinois market," said Jay Webster, president of Choose Energy. "We are thrilled to welcome Power2Switch. We will now be able to offer more choices to our customers while expanding into new markets and working with additional service providers."
As part of the acquisition, Choose Energy will procure Power2Switch's products, assets and customers. Two Power2Switch employees will join the Choose Energy team and remain in Chicago.
Since its launch in Illinois in 2010, Power2Switch has expanded to New Jersey, Texas, Ohio and New York.
ChooseEnergy.com is currently available in Pennsylvania, Texas, New York, Ohio, Connecticut, Illinois, Maryland and New Jersey
Choose Energy raised a $4 million Series A investment from Kleiner Perkins Caufield & Byers (KPCB) and Stephens Capital Partners in March, 2013, to help advance its technology, accelerate its growth and strengthen its market position. Choose Energy plans to enter all 19 deregulated energy states and 22 deregulated natural gas states.
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September 30, 2013
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Copyright 2010-13 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
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