HYLA Mobile
2020
$347M
Why
Assurant acquired HYLA Mobile, a leading provider of smartphone trade-in, upgrade, and device-lifecycle software, to build out its Connected Living technology platform for mobile carriers and retailers.
Impact
The roughly $346.9 million deal gave Assurant a direct role in the used-and-refurbished device economy, positioning it to profit from device trade-in and resale in addition to its traditional insurance and warranty business. HYLA's software was already used by major US wireless carriers to power their trade-in programs, giving Assurant an existing embedded relationship with carrier partners rather than requiring it to build trade-in infrastructure from scratch.
Outcome
HYLA's trade-in technology was folded into Assurant's Global Lifestyle segment, closing December 1, 2020, and later complemented by the 2021 acquisition of South Korea's Olivar Co. Ltd. to extend similar mobile-lifecycle-management capabilities into Asia.