Business Wire

Assurant Acquires Mobile Device Trade-In Innovator HYLA Mobile

Share

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.

Contact information

Media:
Linda Recupero
Senior Vice President, Enterprise Communication
201.519.9773
linda.recupero@assurant.com

Investor Relations:
Suzanne Shepherd
Senior Vice President, Investor Relations
201.788.4324
suzanne.shepherd@assurant.com

Sean Moshier
Assistant Vice President, Investor Relations
914.204.2253
sean.moshier@assurant.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

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

Thales to Deliver the World’s First Fully Integrated Unmanned Mine Countermeasures System for the Royal Navy and French “Marine Nationale”26.11.2020 22:55:00 EETPress release

Following the first phase of the program in which two demonstrators have successfully proven their operational performances at sea, France and the United Kingdom marked the tenth anniversary of the Lancaster House treaties by signing a joint contract for Thales to start the production phase of MMCM to deliver eight unmanned mine hunting systems (four for France and four for the United Kingdom). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201126005783/en/ MMCM system at sea ©Thales With the threat of mines and improvised explosive devices present in all conflicts involving naval forces, countries need to strengthen the protection of their maritime domain, to ensure the protection of their assets and to safeguard the freedom of civil navigation. At the same time, it is essential to limit human exposure to mines. With 50 years of expertise serving navies around the world, Thales develops technologies that enable the transiti

Saudi Urban20 Chair Wishes Italy ‘Buona Fortuna’ With the 2021 Urban20 Presidency26.11.2020 16:47:00 EETPress release

The Urban20 (U20) Chair, His Excellency Fahd Al-Rasheed, President of the Royal Commission for Riyadh City has today wished his Italian counterparts good luck or “Buona Fortuna” as Italy prepares to take up the reins of the 2021 G20 Presidency and the engagement group of cities, the U20. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201126005650/en/ HE Fahd Al-Rasheed, chair of U20 Riyadh 2020 - (Photo - AETOSWire) “The city of Riyadh is immensely proud and honored to have Chaired the 2020 U20. We are proud of the progress we made together as the U20 of 42 cities and 30 think tanks, universities, and multi-lateral entities. We collaborated, innovated and found common ground. We discussed challenges and solutions experienced by cities across every continent. We focused on the common goal of rebuilding better. As we worked to bring urban issues to the fore, a record 39 mayors and representatives of leading cities endorsed the

DEWA Innovation Centre and 800MW 3rd Phase of the Mohammed bin Rashid Al Maktoum Solar Park Inaugurated26.11.2020 16:31:00 EETPress release

HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has inaugurated Dubai Electricity and Water Authority’s (DEWA’s) Innovation Centre and the 800MW third phase of the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world. The solar park has a planned capacity of 5,000MW by 2030, with investments up to AED50 billion. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201126005645/en/ DEWA Innovation Centre and 800MW 3rd phase of the Mohammed bin Rashid Al Maktoum Solar Park inaugurated (Photo: AETOSWire) HH Sheikh Mohammed bin Rashid Al Maktoum was briefed by HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, about the Innovation Centre, which is a global hub for renewable and clean energy innovation. It supports innovation and creativity in clean and renewable energy, promotes sustainability, develops Emirati talent and enhances the UAE’s com

Leveraging Its Mobile ID, IDEMIA Brings Digital Travel Credentials to Life26.11.2020 16:30:00 EETPress release

Digital Travel Credentials make traveling between airports and airlines a more enjoyable experience and bolsters passenger trust in airport services and systems. On 10-11 November 2020, at the ICAO virtual conference, IDEMIA demonstrated with an airline partner its breakthrough innovation capabilities to present a fully operational solution, bringing DTC to life. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201126005534/en/ (Photo: Buiness Wire) Leveraging its Mobile ID solution and passenger flow facilitation solutions, IDEMIA simulated a passenger DTC for check in and smart boarding. Passengers can speed through all airport touchpoints thanks to fast and ultra-secure biometric identification. IDEMIA’s DTC treat private data with the same security level as for paper passports. “This DTC demonstrator illustrates the innovative capabilities of IDEMIA to perform a highly secure, reliable and smooth identity verification of t

Egle Therapeutics Identifies First Novel Regulatory T-cell Targets in Research Alliance with Takeda26.11.2020 13:30:00 EETPress release

Egle Therapeutics SAS (Egle), an emerging biotechnology company focused on developing first-in class immunotherapies targeting immune suppressor regulatory T-cells (Tregs) for oncology and autoimmune diseases, today announces that it has achieved the first milestone in its strategic research alliance with Takeda Pharmaceutical Company Limited (“Takeda”). In the course of the strategic research alliance that was announced in June 2020, Egle will validate novel tumor-infiltrating regulatory T-cell (Treg) targets against which Takeda will develop potential therapies. Egle has leveraged its unique bioinformatic and translational capabilities to successfully identify targets that will now be pursued under the terms of the alliance. Upon achievement of the target identification, Egle will receive an R&D milestone payment and investment from Takeda. Luc Boblet, CEO of Egle, commented “Reaching this first technical milestone marks our positive progress towards our joint goal with Takeda, of cr

Technology Entrepreneurs Choose Chengdu as Destination and Benefit From the City’s International Business-Friendly Environment26.11.2020 11:23:00 EETPress release

Chengdu has long had an international reputation as a highly livable city. In recent years, Chengdu has also cultivated a business-friendly environment aligned with international standards, making the city fertile soil for enterprise development, especially in the tech sector. XGIMI Technology, a Chengdu-based leading provider of multi-functional smart projectors and laser TVs in China, attributed part of its success to Chengdu’s favorable environment, helping the firm to grow and in 2018 surpass global giants Epson and Sony in the Chinese projector market for the first time. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201126005495/en/ XGIMI Technology Founder Mr. Zhong Bo (Photo: Business Wire) According to data on China’s projector market in the first half of 2020 released by IDC, XGIMI ranked first in terms of shipments and sales, with a market share of 22%. Five XGMI models feature in the top ten projectors by shipmen

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