Assurant (AIZ) - Get Report, a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases, today announced the closing of its acquisition of HYLA Mobile, a leading provider of smartphone software, trade-in and upgrade services. The acquisition further strengthens Assurant's trade-in and upgrade programs and better positions the company for the upcoming 5G smartphone upgrade cycle.
"We're excited to officially welcome HYLA to the Assurant family," said Keith Demmings, EVP and president of Global Lifestyle at Assurant. "The combination of our operations doubles our device processing volumes, expands our customer base, increases our device diversity and enhances our talent. We will leverage our complementary capabilities to generate new growth opportunities and improve the customer experience at a time when many device owners are considering trade-in programs to finance new 5G device purchases."
"We are anticipating increased volume and global demand for trade-in solutions as we prepare for the upcoming 5G trade-in cycle," said Biju Nair, former President and CEO of HYLA. "Joining forces with Assurant helps us serve our combined customers worldwide by leveraging technology and best practices from both organizations."
HYLA's patented software technology joins Assurant's end-to-end mobile device lifecycle management capabilities, creating a comprehensive solution that is built to increase trade-in attachment rates, provide better customer experiences, improve inventory supply to lower device support costs, and maximize disposition values and new revenue streams. In addition, the combination of both companies' trade-in and upgrade programs will further sustainability practices by extending the life of mobile devices.
Assurant, Inc. (AIZ) - Get Report 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.
Some of the statements included in this news release 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 the company's historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the company or any other person that the company's future plans, estimates or expectations will be achieved. Actual results may differ materially from those projected in the forward-looking statements. The company undertakes no obligation to update or review any forward-looking statements included in this news release, whether as a result of new information, future events or other developments. For additional information on factors that could affect our results, please refer to the risk factors identified in the reports filed with the U.S. Securities and Exchange Commission, including the risk factors identified in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
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