Identity Fraud in Focus quarterly report
8 min
Today we are pleased to announce that InfoArmor will be acquired by The Allstate Corporation. After closing, which we expect to happen later in 2018, InfoArmor will continue to operate as a wholly-owned business of Allstate, which means that the high quality service all our partners, clients, and participants have come to expect is now backed by Allstate. Goldman, Sachs & Co. LLC and Choate Hall & Stewart LLP served as exclusive advisors to InfoArmor for this transaction. You can read more about the acquisition in today’s news release.
Allstate protects people from life’s uncertainties with more than 88 million proprietary policies, and its Allstate brand is widely known from the slogan “You’re in Good Hands with Allstate.” Allstate Benefits has increased its revenue fourfold from $263 million to $1.1 billion in the voluntary benefits market since its acquisition in 1999 and now serves more than 4 million employees through 42,000 companies.
As InfoArmor becomes an Allstate company, there will be no change in its brand, though we will continue to work on details over the coming months. The progression will not impact existing contracts, pricing and commissions will remain the same, sales reps and account managers will remain the same, and our headquarters will continue to operate out of Scottsdale, AZ.
Both InfoArmor and Allstate are ecstatic about the possibilities of future growth together. We will continue to deliver innovative product design and impeccable customer service through the employee benefits channel.
We’ll be publishing more information about this in the near future; if you’d like to make sure you don’t miss it, please subscribe to our blog in the box to the left.