Stream Energy Purchased by NRG Energy, Inc.
In an all cash deal worth $300 million, NRG Energy has purcha”sed Texas-based Stream Energy. NRG is Texas’ largest seller of electricity, and will bring Stream’s 600,000 residential customers in nine states under its roof. NRG says the deal with increase its market share in Texas, Pennsylvania and several other U.S. states. Stream was founded in 2005 by Rob Snyder and Pierre Koshakji. According to Snyder, the purchase will allow Stream to focus on its associate business and continue to grow it.