Vistra Energy to acquire Ambit Energy for $475m.

Vistra Energy, a premier, integrated energy company based in Irving, Texas, agreed to acquire Ambit Energy, an International multi-level marketing company that provides electricity and natural gas services in energy markets, for $475m in cash. "Ambit is a very attractive standalone retail company and a great match for Vistra's retail business, given its leading direct selling capability and its proprietary technology platform. Importantly, Ambit's retail load is nearly two-thirds in the ERCOT market, followed by PJM and the northeast, and this load is 90% comprised of residential and small business customers," said Curt Morgan, Vistra's president and chief executive officer.