Octopus Energy acquires Bulb in record-breaking deal

Octopus Energy has acquired Bulb in a record-breaking deal that will create the UK's largest independent energy supplier.

The deal, which was announced on 22 November 2021, will see Octopus Energy acquire Bulb's 1.7 million customers and 600 employees.

Bulb is the UK's seventh-largest energy supplier, and its acquisition will make Octopus Energy the third-largest supplier in the UK.

The deal is a major coup for Octopus Energy, which has been growing rapidly in recent years.

The company has been praised for its innovative approach to energy supply, which includes offering customers 100% renewable electricity.

The acquisition of Bulb will give Octopus Energy a significant boost in the UK energy market.

The deal is also a major blow to Bulb, which has been struggling financially in recent months.

Bulb's financial problems were caused by a number of factors, including the rising cost of wholesale energy and the impact of the Covid-19 pandemic.

Octopus Energy has said that it will honor all of Bulb's existing customer contracts.

The company has also said that it will invest in Bulb's business, including its customer service team.

The acquisition of Bulb is expected to be completed in early 2022.

The deal is subject to approval from the UK's Competition and Markets Authority.

If approved, the deal will create a major new player in the UK energy market.

Conclusion:

The acquisition of Bulb by Octopus Energy is a major development in the UK energy market.

The deal will create the UK's largest independent energy supplier and will give Octopus Energy a significant boost in the market.

The deal is also a major blow to Bulb, which has been struggling financially in recent months.