Allstate Acquires PlumChoice
Allstate has acquired PlumChoice, a provider of cloud and technical support services to consumers and small businesses, in a $30m deal. The company, headquartered in Lowell, Massachusetts, will become part of SquareTrade, Allstate’s provider of protection plans for mobile phones, consumer electronics and appliances.
Established in 2001 with ~$89m in funding and debt financing, PlumChoice provides support solutions to customers needing help with setup, connectivity, internet of things (IoT) devices and cloud services.
“As our digital lives grow more connected and complicated, getting technology to work for us and not against us is a consumer priority. This acquisition joins two industry leaders to deliver a best-in-class tech support solution for the millions of customers who have chosen to protect their devices with SquareTrade protection plans.” – President and cofounder of SquareTrade, Ahmed Khaishgi.
“We are excited to join SquareTrade, a company that shares our commitment to delivering high-quality service to customers. This partnership allows us to expand the customer service offerings available to tech support representatives, retailers and service providers so they are better able to meet their customers’ growing technology needs.” – CEO of PlumChoice, David Shimoni.
Recall insurance M&A here.