Assurant Acquires Mobile Device Trade-In Innovator HYLA Mobile
28.10.2020 12:30:00 CET | Business Wire | Press Release
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
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
Enry’s Island Unveils “Enry’s Island Adventures”: Venture Capital Becomes a Videogame and Launches the “Strap” Movement on Kickstarter3.4.2026 09:47:00 CEST | Press Release
Enry’s Island SpA (WBAG: EIOS), the world’s first publicly traded Venture Builder, today announced the upcoming Kickstarter launch of Enry’s Island Adventures (EIA), developed by its New York-based portfolio company, Enry’s Island Adventures LLC. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260402548535/en/ The game is designed to make venture capital accessible to new generations, transforming startup creation into an engaging and social gaming experience. After three years of R&D, EIA introduces a "bleisure" model (business + leisure): players learn to launch and manage startups through gameplay that includes real business KPIs, a customizable and evolving personal island, synchronous and asynchronous multiplayer modes, social events, and community-driven seasonal missions. The “VC revolution”: teaching and democratizing through play "I agree with Elon Musk that the best way to teach is through a video game, and this is
SES Announces Results of the Annual General Meeting2.4.2026 16:49:00 CEST | Press Release
SES (the “Company”) held the Annual General Meeting (“AGM”) of Shareholders today in Betzdorf, Luxembourg. Following the recommendations made by the Board of Directors of SES, the shareholders have voted in favor of all resolutions, including the Company’s 2025 annual accounts and the proposed annual dividend of EUR 0.50 per A-share (EUR 0.20 per B-share). The total dividend amount comprises the interim dividend of EUR 0.25 per A-share (EUR 0.10 per B-share), which has already been paid to shareholders on October 16, 2025. The final dividend of EUR 0.25 per A-share (EUR 0.10 per B-share) will be paid to shareholders on April 16, 2026. “I would like to sincerely thank our shareholders for their active engagement, visionary support and continued confidence in SES’ strategy,” said Adel Al-Saleh, CEO of SES. “The outcomes of today’s AGM underscore our shared commitment to a bold multi-orbit approach, with Medium Earth Orbit as the strategic backbone of a dynamically evolving global interco
Forrester: Three Years Into GenAI, Enterprises Are Still Chasing Its True Transformative Value2.4.2026 16:00:00 CEST | Press Release
According to Forrester’s (Nasdaq: FORR) latest report, Accelerate Your AI Voyage, most enterprises are struggling to turn growing AI adoption and investment into measurable business impact. One of the key factors holding businesses back is low artificial intelligence quotient (AIQ) — Forrester’s measure of AI aptitude — with many employees lacking a clear understanding of how to use AI. Other barriers include an overemphasis on productivity-focused use cases, difficulty measuring impact, and siloed adoption within individual functions. While these challenges can leave firms frozen in doubt or indecision, the wait-and-see approach to AI adoption is no longer viable. To unlock AI’s full potential, organizations need to focus on four key areas: Define the business outcomes and success metrics for what they want AI to achieve; identify specific use cases for AI deployment aligned to those business outcomes; establish a structured runway to plan, test, and strategically time the deployment
Andersen Consulting Adds Multiplica2.4.2026 15:30:00 CEST | Press Release
Andersen Consulting enters into a Collaboration Agreement with Multiplica, a digital consulting firm that helps organizations design, build, and scale impactful digital experiences. Founded in Spain with a presence in Latin America and the U.S., Multiplica focuses on user research and discovery, customer experience research, digital strategy, data modeling and analysis, report automation and data visualization, conversion rate optimization, product design, and user experience design. The firm helps organizations accelerate digital transformation by building digital capabilities, teams, and assets that advance expertise across digital products, consulting, and talent development. Multiplica enables clients to forecast emerging trends in digital experience and transform their businesses through enhanced digital channels and customer engagement. “Collaborating with Andersen Consulting represents an exciting opportunity to extend our reach and impact,” said David Boronat, CEO of Multiplica
The LYCRA Company Announces Strategic Partnership on Renewable LYCRA ® Fiber2.4.2026 15:00:00 CEST | Press Release
The LYCRA Company, a global leader in innovative and sustainable fiber solutions for the apparel and personal care industries, today announced the signing of a strategic partnership agreement with Texhong International Group Limited (“Texhong”), one of the world’s largest suppliers of core-spun cotton textiles. Under the agreement, Texhong will exclusively partner with The LYCRA Company to bring Renewable LYCRA® fiber made with 30 percent plant-based content* to China’s core-spun yarn sector. This collaboration aims to accelerate the adoption of bio-derived spandex across the global apparel and textile industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260402505834/en/ The LYCRA Company announced a strategic partnership with Texhong International Group for renewable LYCRA® fiber. Pictured at the signing ceremony held in Shanghai (left to right): Jason Wang, Vice President, Asia, The LYCRA Company, and Zhou Xia, Chief O
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