StarTex Power Signs Definitive Merger Agreement To Be Acquired By Constellation Energy

StarTex Power announced today that it has signed a definitive merger agreement to be acquired by Constellation Energy CEG. Constellation, headquartered in Baltimore with approximately 12,000 megawatts of generation capacity, will leverage StarTex Power's model based on award-winning customer care and low prices to drive their mass market growth. “We are excited to announce our merger with Constellation and look forward to having opportunities for further growth by using Constellation's national footprint,” said Bob Zlotnik, chief executive officer and president of StarTex Power. “Not only does this bring greater opportunities for our employees, but it gives StarTex Power stronger support to continue to serve our customers with the Star Treatment while furthering our commitment to upholding the highest standards in the industry.” The purchase of StarTex Power gives Constellation Energy a foothold in the Texas mass market, the most active of all residential electricity markets in the country, and is a key element of the company's broader strategy to be a residential sector market leader. “Our employees, who helped make this company what it is today, own roughly 30 percent of StarTex Power. This merger continues to Return the Favor to them by fully vesting their interests so each employee will share financially in the proceeds from the sale,” said Marcie Zlotnik, chairman of StarTex Power.