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.
“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.”?
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.