B2B commerce platform AppDirect purchased DNE Resources, an energy broker focused on Canada’s deregulated markets. The transaction – which follows the recent announcement of its acquisition of Broker Online Exchange (BOX) – will be financed by a CAD 100 million (US $73 million) credit facility via La Caisse.
It is also expected to expand AppDirect’s reach into the Canadian and U.S. energy markets, contributing to its vision to become an “everything store” and lifecycle management platform for services that support business success sold through advisors and brokers.
DNE was founded in 2009, and provides energy solutions for industrial and commercial customers. It has more than CAD 250 million in energy spending under management. Through this transaction, DNE will gain access to the BOX My Service Cloud platform and AppDirect value-added services, helping it extend a go-to-market approach to provide additional technology solutions to customers.
“One of the most important things we focus on as a business is always doing the right thing,” said DNE co-founder and CEO, Wayne Burke. “In this case, the right thing for our end customers includes solving their evolving energy needs and expanding our solution set to all products supported in the AppDirect procurement marketplace. We are excited about this growth opportunity for us as a company and for our customers as a community.”
By adding energy solutions to its platform — which already includes cloud, telecom, mobility, hardware and AI — AppDirect expects to build a unified procurement marketplace for tech advisors and brokers, helping their customers find, buy and manage everything they need to succeed.
“The energy market is undergoing massive changes, presenting significant opportunities for cost savings, sustainability and innovation,” said Nicolas Desmarais, AppDirect chairman and CEO. “Backed by our longstanding partner La Caisse, our acquisitions of DNE and BOX are happening at a crucial time when increased AI consumption has skyrocketed energy demands. We are committed to empowering businesses with the tools, insights, and infrastructure required to thrive in a connected, sustainable and rapidly evolving digital economy.”
Following the mergers, DNE Resources and BOX will remain as distinct brands in the energy market, with DNE customers and BOX brokers able to access additional technology or solutions to run their businesses.
