Assurant Inc., a provider of specialty insurance and insurance-related products and services, has agreed to purchase Lifestyle Services Group, a mobile phone insurance provider, for up to $160 million in cash from Phones 4u Finance Plc.
Assurant says the acquisition of Lifestyle Services Group will complement and broaden Assurant Solutions’ footprint in the mobile marketplace. The acquisition is expected to have a minimal impact on Assurant’s 2014 earnings and be accretive going forward. The transaction is subject to regulatory approval and expected to close in the fourth quarter of 2013.
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