Plus   Neg

IDT Energy To Buy Diversegy - Quick Facts

Retail energy provider IDT Energy, a subsidiary of Genie Energy Ltd (GNE), Monday said it will acquire Dallas-based Diversegy, LLC., a retail energy advisory and brokerage company, and its network marketing channel, Epiq Energy. The terms of the deal were not disclosed. Epiq Energy offers its direct marketing representatives the opportunity to earn commissions on energy supply based on the consumption of the customers they bring into the program.

"Through Diversegy and Epiq Energy, we have acquired access to two new customer acquisition channels, and expanded our geographic reach beyond our current service area," said Geoff Rochwarger, CEO of IDT Energy. "Through Epiq Energy's retail energy marketing program, we expect to boost our residential customer acquisition efforts. Diversegy will help us broker competitive offerings for large commercial and industrial customers beyond our current footprint," concluded Rochwarger.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Business software giant Oracle Corp. (ORCL), Monday said it swung to a third-quarter loss after taking a $6.9 billion charge related to the new U.S. tax law. Revenues for the quarter grew 6 percent reflecting strong growth in cloud revenues. Adjusted earnings for the quarter trumped Wall Street estimates,... Canada-based cannabis company Cronos Group Inc. (CRON) and MM Enterprises USA LLC said Monday that they have formed a cross-border joint venture to cater to Canadian consumers. The move comes as Canada plans to legalize adult use of cannabis by the end of this year. MM Enterprises USA, LLC is a U.S. cannabis company with facilities in California, Nevada, and New York. Qualcomm Inc.'s former Chairman Paul Jacobs plans to acquire the chipmaker founded by his father and has approached several global investors in an effort to fund the buyout, the Financial Times reported. According to the report, Jacobs informed members of the Qualcomm board about his intention to take the company private. Qualcomm has a market capitalization of $90 billion.
comments powered by Disqus
Follow RTT