Tuesday, November 29, 2016

SquareTrade Acquired By Allstate For $1.4 Billion

San Francisco-based SquareTrade, which provides third party warranties for iPhones, iPad, laptops, and other electronic products, has been acquired by Allstate, in a deal worth $1.4 billion, according to the two companies. SquareTrade had been backed by Bain Capital Private Equity and Bain Capital Ventures, and others. The companies said the acquisition is expected to complete in January of 2017. Allstate said the buy will help it extend its consumer reach.