The Allstate Corp. has acquired iCracked, a provider of on-site, on-demand repair services for smartphones and tablets in North America. Financial terms were not disclosed.
Allstate said it plans to incorporate the privately held San Francisco-based company into SquareTrade, an Allstate company that offers consumer protection plans and tech support.
Allstate paid $1.4 billion for SquareTrade in 2017. At the time, Allstate Chairman and CEO Tom Wilson said the acquisition would further “Allstate’s consumer-focused strategy of providing unique products.”
The company iCracked has a broad market reach, operating in more than 60 metropolitan areas in the U.S. and Canada, according to Allstate/SquareTrade. SquareTrade President and co-founder Ahmed Khaishgi said the acquisition is a complementary one.
“SquareTrade is uniquely positioned to protect the hardware and software that power our customers’ connected devices,” Khaishgi said in prepared remarks.
A.J. Forsythe, iCracked CEO, said in prepared remarks that he sees SquareTrade as “a company that shares our commitment to delivering high-quality on-demand service to customers.”
Source: Allstate/SquareTrade
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