Assurant, a leading provider of extended-service contracts and other insurance-related products and services, has entered into an agreement to acquire Signal Holdings, a provider of wireless handset protection programs and repair services.
Under the deal, Assurant will pay $250 million in cash to private-equity firm Trident II, L.P. and Signal Holdings’ management for the company’s outstanding capital stock. Signal will then become a unit of Assurant’s Assurant Solutions division and will report to executive VP Joe Erdeman, who also serves as president of the Extended Protection Solutions operation.
The deal should close in Q4 2008.
