DALLAS--(BUSINESS WIRE)--Stream, a leading direct selling company and marketer of energy and wireless services, has completed the previously announced sale of its retail energy business to NRG Retail LLC, a subsidiary of NRG Energy, Inc. (NYSE: NRG). The closing of the transaction 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.
Rob Snyder, Founder of Stream, said, “It is exhilarating to see a new brand emerge that speaks perfectly to the heart of who we are and what we do. 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.”
Founded in 2005, Kynect is a leading direct selling company based in Dallas, Texas. Using the power of relationships as the foundation of our business, Kynect revolutionized the energy industry and has grown into one of the largest direct selling companies in the energy market. Through its independent sales organization, Kynect markets and sells a variety of services, including Stream Energy and wireless services.