Sale to Assurant, Inc.

Technology & Services
Sale to Assurant, Inc.

Summary

Baird served as exclusive financial advisor to Hyla, Inc. on this transaction

About

Hyla, Inc. (“Hyla”), a portfolio company of Kleiner Perkins, Silver Lake Kraftwerk, OpenAir Equity Partners, RRE Ventures, SJF Ventures and NGEN Partners, has entered into a definitive agreement to be acquired by Assurant, Inc. (“Assurant”) for approximately $325 million. The transaction is expected to close by the end of 2020, subject to regulatory and other customary closing approvals.

Hyla is a leading provider of mobile device returns management, diagnostics and reuse solutions. 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.

Assurant, Inc. 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.
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Technology & Services
Sale to Assurant, Inc.
Date
October 2020
Company
Hyla, Inc.
Transaction
M&A
Sectors
Technology & Services
Target Location
North America
Acquiror Location
North America

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