Assurant Acquires Mobile Device Trade-In Innovator HYLA Mobile
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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201028005610/en/
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
Seasoned European Software Executive David Coste to Join Battery Ventures27.1.2026 10:00:00 EET | Press release
Battery Ventures, the global, technology-focused investment firm, announced it has hired former Forterro executive David Coste as an executive-in-residence based in its London office, effective next month. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260127122321/en/ David Coste, a former Forterro executive who begins a new executive-in-residence role with global investment firm Battery Ventures in London in February. At Battery, Coste will work closely with Battery Partner Zak Ewen and General Partner Morad Elhafed, among others, to help source and evaluate business-technology investments throughout Europe. Battery first opened its London office in 2016 and, since 2005, has completed more than 150 transactions across 13 countries including the U.K., Germany, France, the Netherlands, Belgium, Switzerland, Sweden and Norway. “We’re thrilled to have David join our team in London after watching the significant impact he’s had
Castles Technology Partners With Loomis Pay to Power European Expansion With Next-Generation Android Devices27.1.2026 09:00:00 EET | Press release
Castles Technology, a global leader in Android payment acceptance devices, has been selected by Loomis Pay, the POS and digital payment division of Loomis, to support its European expansion. Through this collaboration, Loomis Pay will strengthen its capacity to deliver flexible and secure POS and payment solutions tailored to merchant preferences. As well as empowering merchants and their customers to transact the way they prefer, cash, card and digital. Following an extensive market review, Loomis Pay chose Castles Technology for its leadership in Android-based payment solutions, recognized for versatility, reliability, and innovation across its latest Android devices. Loomis Pay will deploy their POS and payment services on the portable S1F4 Pro, the PINPAD S1P2 and the unattended S1U2M4, as well its CasHUB TMS and Marketplace. Castles Technology and Loomis Pay have been working hand-in-hand with Seitatech, a specialized Finnish payment expert company, to develop the complete softwar
Cirium Ascend Consultancy Named Appraiser of the Year at the Aviation 100 Awards for a Record 11th Time27.1.2026 08:00:00 EET | Press release
Cirium Ascend Consultancy has been named Appraiser of the Year 2026 in the Airline Economics Aviation 100 Global Leaders Awards, the team’s 11th title in 15 years. The Consultancy is a highly respected division of Cirium, the world’s most trusted source of aviation analytics. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260126679094/en/ AOTY Win The Appraiser of the Year award recognizes the aircraft appraisal provider that has demonstrated the greatest contribution to the industry over the past year. The fourth consecutive win reflects the trust placed in the Ascend Consultancy team and their work by their industry peers. The Aviation 100 Global Leaders Awards celebrate the best companies, individuals and transactions in the aviation finance and leasing sector. Accolades are awarded based on an industry-wide survey and an expert panel of judges. “Receiving Appraiser of the Year for the 11th time is a meaningful endorsemen
Ohana Development and Manchester City F.C. Sign Agreement to Launch Multi-Billion-Dirham Project in Abu Dhabi27.1.2026 08:00:00 EET | Press release
Ohana Development, a leading UAE real estate developer renowned for its luxury properties, has signed an agreement with Manchester City F.C. to launch ‘Manchester City Yas Residences by Ohana’, a first-of-its-kind branded residential community, set along Abu Dhabi’s Yas Canal waterfront. The partnership reflects a shared commitment to excellence, innovation and long-term value creation, reinforcing Abu Dhabi’s position as a global destination for world-class developments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260126122700/en/ Standing: HE Khaldoon Al Mubarak, Chairman of Manchester City Football Club. Left to right: Husein Salem, CEO of Ohana Development and Ferran Soriano, CEO of City Football Group. (Photo: AETOSWire). Spanning 1.67 million square metres, ‘Manchester City Yas Residences by Ohana’ draws on the club’s global appeal and legacy, reimagined through a contemporary lens, aligning Manchester City’s identi
EIB Provides €20 Million in Financing to SamanTree Medical for Real-Time Microscopy for Surgical Procedures27.1.2026 08:00:00 EET | Press release
SamanTree Medical, a European leader in surgical imaging innovation, has secured €20 million in financing from the European Investment Bank (EIB). The operation is backed by InvestEU, the EU’s flagship program to mobilize over €372 billion in additional investment from 2021 to 2027. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260126080876/en/ The European Investment Bank (EIB) provides €20 million in financing to SamanTree Medical, a leader in surgical imaging innovation. The financing supports the development of an advanced confocal microscopy scanner for rapid imaging of the internal microstructure of tissue samples during surgical procedures, R&D and continued development and advancement of the company's Histolog® Scanner, the first and only medical imaging device featuring massively parallel confocal microscopy. Shown: Alessandro Izzo, EIB Director (left) and Olivier Delporte, CEO of SamanTree Medical (right). The fin
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