NY-ASSURANT
28.10.2020 12:32:11 CET | Business Wire | Press release
Assurant (NYSE: AIZ), a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases, today announced it has entered into a definitive agreement to acquire HYLA Mobile, a leading provider of smartphone software, trade-in and upgrade services. The transaction is expected to close by the end of 2020, subject to regulatory and other customary closing approvals.
The acquisition will further strengthen Assurant’s trade-in and upgrade programs by doubling device processing volumes while adding device diversity, talent, patented technology and capabilities. Combined, both organizations will service more than 30 trade-in or upgrade programs globally and be better positioned for the upcoming 5G smartphone upgrade cycle, which is anticipated to spur consumer interest in using trade-in programs to finance new device purchases.
“Assurant continues to deepen our focus on connected lifestyles, investing in solutions that help our clients better manage the customer experience through the entire device lifecycle,” said Keith Demmings, EVP and president of Global Lifestyle at Assurant. “Trade-in and upgrade programs are integral parts of the device lifecycle and the combination of HYLA’s patented software technology and trade-in capacity with Assurant’s end-to-end mobile device lifecycle management capabilities will enable us to develop new pathways to consumer-focused innovations and improve program economics and performance for our partners.”
HYLA leverages a unique software-as-a-service (SaaS) approach to drive omni-channel device trade-in and upgrade programs, processing and disposition. HYLA also enhances trade-in adoption by making it easy for consumers to get a trade-in offer for their mobile device without an in-person inspection, enabling a contactless transaction. Combined, both companies’ trade-in and upgrade programs will further sustainability practices by extending the life of mobile devices.
“We are excited to join Assurant, a global leader in device lifecycle management, with a proven track record and ongoing commitment of innovation to support the evolving needs of its clients and their end consumers,” said Biju Nair, President & CEO of HYLA Mobile. “We share the same philosophy of continuously finding ways to make the mobile device experience better for consumers and more efficient for our partners. We look forward to working together to bring more customer-centric innovations to the market, especially as our customers are deploying 5G.”
About Assurant
Assurant, Inc. (NYSE: AIZ) is a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases. Anticipating the evolving needs of consumers, Assurant partners with the world’s leading brands to develop innovative products and services and to deliver an enhanced customer experience. A Fortune 500 company with a presence in 21 countries, Assurant offers mobile device solutions; extended service contracts; vehicle protection services; pre-funded funeral insurance; renters insurance; lender-placed insurance products; and other specialty products. The Assurant Foundation strengthens communities by supporting charitable partners that help protect where people live and can thrive, connect with local resources, inspire inclusion and prepare leaders of the future.
Learn more at assurant.com or on Twitter @AssurantNews .
About HYLA Mobile
HYLA Mobile is a leading provider of mobile device returns management, diagnostics and reuse solutions, backed by leading growth investors and funds including Kleiner Perkins, Silver Lake Kraftwerk, OpenAir Equity Partners, RRE Ventures, SJF Ventures and NGEN Partners. Since its founding in 2009, HYLA has worked to develop technology and solutions that extend the lifecycle of mobile devices to build economic opportunity and enable information access for new users, while helping to protect our planet. HYLA’s leadership in promoting Circular Economy was recently recognized by the World Economic Forum by naming HYLA as a finalist for the prestigious Circulars Award and listing it among the top 10 companies promoting circular economy globally. Pitchbook named HYLA as one of the most valuable startups in the country in 2019.
HYLA partners with leading mobile operators, retailers, OEMs, insurers, and online brands to provide lifecycle management for used mobile devices. HYLA extends the life of these devices to consumers around the world, providing access to affordable, high-quality wireless technology in developed and emerging markets and also help in lowering cost of insurance programs. Learn more at hylamobile.com .
###
Safe Harbor Statement
Some of the statements included in this news release, particularly those with respect to the proposed HYLA Mobile acquisition and any statements regarding the company’s anticipated future financial performance, business prospects, growth and operating strategies and similar matters, may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained in this news release are based upon our historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that our future plans, estimates or expectations will be achieved. Our actual results might differ materially from those projected in the forward-looking statements. We undertake no obligation to update or review any forward-looking statement, whether as a result of new information, future events or other developments. For a detailed discussion of the factors that could affect our actual results, please refer to the factors identified in the reports we file with the U.S. Securities and Exchange Commission (the “SEC”), including but not limited to the risk factors identified in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, each as filed with the SEC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201028005610/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Motive Powers Latin America’s Next Wave of Mobile Innovation1.6.2026 17:00:00 CEST | Press release
Motive Entitlement Server enabling satellite connectivity in the Andes to fraud-free authentication in Brazil Motive, a global leader in entitlement and connected device & service management, joined operators and industry leaders at M360 LATAM in Mexico City, showcasing live deployments across the region's most consequential use cases: Satellite Direct-to-Device connectivity for unreachable geographies, end-to-end eSIM provisioning and visibility at scale, and SIM-based silent authentication replacing fraud-exposed SMS OTP. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260531906729/en/ Across landmark deployments with multiple Claro, Vivo, and Entel operations, Motive’s Entitlement Server (Motive ES) has moved from infrastructure component to regional growth engine. These deployments are citing measurable commercial growth, enabling streamlined eSIM provisioning, improved device onboarding experiences, and new revenue oppor
Interactive Brokers Integrates AI into Client Portfolios – Informed by Agentic Technology, Controlled by the Client1.6.2026 16:00:00 CEST | Press release
Clients Can Research Stocks, Analyze Performance, and Generate Trade Instructions in Claude. The Client Approves Every Trade. Interactive Brokers (Nasdaq: IBKR), an automated global broker, today announced agentic trading through direct integration with Claude, one of the world's leading AI platforms. Available through the AI platform’s certified connector marketplace, the integration lets clients manage their accounts and access more than 170 global markets. "Interactive Brokers has used technology for over four decades to help investors make more informed decisions and interact more efficiently with markets," said Milan Galik, Chief Executive Officer of Interactive Brokers. "Investors are increasingly using artificial intelligence to research markets, analyze information and generate ideas. We believe the next logical step is to allow clients to securely connect AI tools directly to their brokerage accounts — whether they want a simple conversational interface, deeper portfolio analy
AIM Expands Life Sciences Supply Chain Capabilities and Hires New Partner, Thomas Ebel1.6.2026 15:01:00 CEST | Press release
AIM today announced the appointment of veteran pharma supply chain expert Thomas Ebel as Partner, effective June 15. Mr. Ebel brings more than 25 years of supply chain consulting experience at leading firms including CAMELOT, McKinsey, and Accenture, and will anchor a broader initiative to expand AIM’s end-to-end supply chain capabilities. According to Richard de Bakker, Statutory Director and Founder at AIM, the firm is significantly expanding its capabilities around “end-to-end” supply chain needs. “AIM is well known as a leader in supply chain development for launch, as well as optimization of existing supply chains — supporting clients in getting their finished products to patients,” said Mr. de Bakker. “We are now adding new capabilities in supply chain diagnostics and strategy, end-to-end planning optimization, supply reliability, and working capital optimization, among others. Combined with AIM’s established supply chain expertise, this expanded offering gives clients true ‘end-
Seoul Semiconductor's World-First 'HV Opto-Semiconductor' Powers Up Global Top 4 Automakers1.6.2026 15:00:00 CEST | Press release
Seoul Semiconductor Co., Ltd. (KOSDAQ: 046890), a global opto-semiconductor technology company, announced that its world's first High Voltage (HV) opto-semiconductor technology has entered mass production with four of the world's top automotive brands across the Americas, Europe, and Asia, with plans to expand supply to 10 models by the end of the year. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260601232986/en/ Comparison: Conventional 3V LED vs. Seoul Semiconductor 12V 'HV Opto-Semiconductor' (Figure: Seoul Semiconductor) The technology combines micro-scaled opto-semiconductor chips capable of 12V single-chip operation — as opposed to conventional 3V LEDs — with a high-voltage (HV) driver technology. This enables a reduction of more than 10% in the number of driver-related components used in hybrid and electric vehicles, while lowering power consumption by approximately 10%, contributing to cost reduction and simplific
Oscilloquartz delivers assured timing for mission-critical harsh environments with ruggedSync™ Series OSA 55101.6.2026 14:00:00 CEST | Press release
News summary: Defense operations require resilient timing architectures that maintain synchronization in contested and GNSS-denied environments ruggedSync™ Series OSA 5510 delivers assured timing and extended holdover in a MIL-qualified platform for tactical, deployable operations Zero-trust resiliency with diversified cPNT sources, including M-Code, PRS and STL, strengthens operational continuity for defense communications, navigation and mission-critical infrastructure Oscilloquartz today launched its ruggedSync™ Series OSA 5510, a ruggedized timing and synchronization platform engineered for defense and other harsh, mission-critical environments. Designed for deployment in tactical communications networks, mobile command centers (MCCs), aviation systems and other highly demanding operational environments, the OSA 5510 combines PTP grandmaster and NTP server functionality with synchronization assurance and resilient holdover in a compact MIL-qualified platform. Multi-band GNSS suppor
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom