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US warranty company Allstate Protection Plans has acquired smart device lifecycle company Kingfisher-mx for an undisclosed amount.
Allstate Protection Plans, formerly known as SquareTrade, offers extended warranties and protection plans for consumer electronics, appliances, furniture, and more. The company is a subsidiary of Allstate, one of the largest insurance companies in the U.S.
Kingfisher was founded in 2016 by CEO Georgiann Reigle and Peter Hirschmann, a former CEO of Assurion Asia. Before Kingfisher, Reigle held various leadership roles, including Managing Director at the British company ghd, known for its high-end hairstyling tools. She was also a consultant at Bain & Company.
“We entered the market with the belief that carriers and consumers deserve a better, more flexible mobile experience,” said Reigle.
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“With the global reach, resources, and financial strength of Allstate, we are now positioned to drive the efficient circulation of both new and second-life devices to potentially billions of users, significantly reducing the environmental impact of mobile device usage worldwide.”
Karl Wiley, Global President and CEO of Allstate Protection Plans added: “Allstate Protection Plans partners with some of the world’s leading mobile carriers, including Telenor Group, Softbank, Three, and T-Mobile, and the mobile industry remains a key area of growth for us globally,” said. “We are thrilled to welcome the Kingfisher team to Allstate. By bringing this world-class team of experts onboard, we gain a significant competitive advantage over traditional companies in the wireless industry, further enhancing our ability to meet the evolving needs of carriers and consumers alike.”?
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Allstate aims to enhance its offerings for key partners like T-Mobile, SoftBank, and Telenor.
NB: Kingfisher-mx UK VP John Coleman will be appearing at Mobile News secondary market conference Circular Summit in London next week (October 22) discussing trade-in models and platforms. More than 100 mobile channel professionals will be attending. Get your delegate pass HERE.