SquareTrade Acquires TechForward's Guaranteed Buyback® Program

Expands Warranty Offering to Retailers and Consumers

Apr 03, 2012, 10:32 ET from SquareTrade, Inc.

SAN FRANCISCO, April 3, 2012 /PRNewswire/ -- SquareTrade, Inc., the top consumer-rated and largest independent warranty company, announced today that it is acquiring TechForward's operating assets to expand its service capabilities for retailers and consumers.

By combining TechForward's patented technology into its current offerings, SquareTrade strengthens its leadership position in the warranty industry, as a company that continues to deliver complete protection and value to retailers and customers. Both organizations are recognized as leading innovators in their industries and share a common belief in delivering world-class, customer-centric service offerings.

"We strongly believe in providing only the best service and value to retailers and customers; TechForward's Guaranteed Buyback Plan helps us do just that," explained Steve Abernethy, CEO of SquareTrade. "With new devices being manufactured every day, SquareTrade can now not only protect your device against drops and spills, but also give users an opportunity to seamlessly upgrade their devices."

TechForward has paved the way in innovation for Guaranteed Buyback Programs that guarantee users cash or store credit back for their devices, allowing them to buy electronics with confidence and upgrade to the latest models.  

"The TechForward team is excited to be joining the most innovative player in the warranty space today," said Jade Van Doren, CEO of TechForward. "The addition of TechForward's expertise with Guaranteed Buyback Plans provides SquareTrade with one of the most critical and innovative services retailers are asking for to serve consumers."

About SquareTrade
Founded in 1999, SquareTrade works with top retailers to offer warranties that make sense with a no-hassle service to protect consumer electronics and appliances. SquareTrade's service is uniquely researchable with millions of customers who have consistently rated SquareTrade's service 5-star reviews. SquareTrade won the 2012 People's Choice Stevie Award for customer service, the 2012 and 2011 Stevie Award for Sales & Customer Service and BizRate's Circle of Excellence Award for 2010.  SquareTrade is privately held and headquartered in San Francisco. Recently Bain Capital led a $238 million growth investment in SquareTrade. For more information, go to www.squaretrade.com.

About TechForward
TechForward gives customers the flexibility to upgrade their computers and electronics more affordably, easily, and responsibly. The Guaranteed Buyback® plans take the uncertainty out of upgrading by guaranteeing future trade-in values for devices at the point and time of sale.  TechForward was the first to market with this innovative product for consumer electronics in 2006. TechForward's investors include New Enterprise Associates and First Round Capital.  For more information, go to www.techforward.com.


SOURCE SquareTrade, Inc.