Allstate Broadens Consumer Protection at SquareTrade
Acquisition of PlumChoice focuses on tech support for consumers and small businesses
NORTHBROOK, Ill., Nov. 8, 2018 /PRNewswire/ -- The Allstate Corporation (NYSE: ALL) has agreed to acquire PlumChoice, a leading provider of cloud and technical support services to consumers and small businesses, in a $30 million deal. The privately held company, headquartered in Lowell, Massachusetts, will become part of SquareTrade, Allstate's provider of protection plans for mobile phones, consumer electronics and appliances.
PlumChoice offers an innovative platform to provide support solutions to customers needing help with setup, connectivity, internet of things (IoT) devices and cloud services. PlumChoice has handled over 15 million tech support requests, delivering market-leading customer satisfaction scores, to empower customers to get the most out of their technology. PlumChoice's patented Chromatix technology will be integrated into SquareTrade's award-winning service platform.
"As our digital lives grow more connected and complicated, getting technology to work for us and not against us is a consumer priority," said Ahmed Khaishgi, President and co-founder of SquareTrade. "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."
"We are excited to join SquareTrade, a company that shares our commitment to delivering high-quality service to customers," said David Shimoni, CEO of PlumChoice. "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."
The transaction is expected to close before year-end and is subject to customary closing conditions.
Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.
SOURCE The Allstate Corporation
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