OVO Energy has completed the acquisition of SSE’s UK household energy business. The merger combines SSE’s scale and OVO’s technology capabilities which will enable millions more customers to decarbonise their homes, while keeping their costs down.
With the acquisition completed, the leadership teams from both companies will collaborate on a more detailed plan on how to bring the two businesses together to create one unified team.
Stephen Fitzpatrick, CEO and Founder of OVO said “Today is an exciting day. It marks the end of one chapter for OVO but, more importantly, the beginning of the next one together with SSE Energy Services. We started OVO with a bold ambition to do better for customers and have stayed true to that vision ever since.”
“We have an integration plan that leaders from both companies have collaborated on since September. There is a lot of work to do to bring the two businesses together, but we have a really strong combination of great talent, technology and customer centricity that will enable us to succeed.”
“SSE’s history of excellence at scale combined with OVO’s innovative technology and our Plan Zero commitments mean that together, as one team, we can bring millions more people with us on our journey towards zero carbon living.”
Alistair Phillips-Davies, CEO of SSE plc, said “We are very pleased to have completed this transaction, which we firmly believe is the best outcome for the business, its customers and its employees.”