Stream has completed the previously announced sale of its retail energy business to NRG Retail LLC.
The closing of the transaction between Stream, a leading direct selling company and marketer of energy and wireless services, and NRG Retail, a subsidiary of NRG Energy, Inc. (NYSE: NRG), follows the receipt of all required regulatory approvals.
Kynect will be the name and brand of the remaining business moving forward, which will market energy and wireless services through its independent sales organization and be the exclusive marketer to the Stream business acquired by NRG.
“It is exhilarating to see a new brand emerge that speaks perfectly to the heart of who we are and what we do,” said Rob Snyder, founder of Stream. “This firm was built on relationships, and forging meaningful connections continues to shape everything we do in our business. And importantly, we have a strong partner in NRG to provide energy services for hundreds of thousands of independent business owners and customers. We are entering an amazing new era for our sales associate community, and I am confident that our new brand identity and partnership will strengthen our business and propel us into the future.”