Likewize Acquires Optus Insurance Services and Signs 15-Year Exclusive Agreement with Optus
December 21, 2021
Likewize entered into an agreement to acquire 100% of Optus Insurance Services Pty Limited from Singtel Optus for A$200 million (approximately US$140 million) and signed a 15-year exclusive supply agreement to provide Optus customers with device insurance, replacement and upgrade programs. The transaction strengthens Likewize's device protection portfolio and scales its presence in the Australian market; completion was expected in Q2 2022, subject to regulatory approval.
- Buyers
- Likewize
- Targets
- Optus Insurance Services Pty Limited
- Sellers
- Singtel Optus Pty Limited (Optus)
- Industry
- Insurance
- Location
- New South Wales, Australia
- Transaction Type
- Buyout
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