Lemonade Acquires Metromile

July 28, 2022

Lemonade (NYSE: LMND) acquired car insurance provider Metromile (NASDAQ: MILE) in an all-stock transaction that implied a fully diluted equity value of about $500 million. The deal closed in 2022, with Metromile shareholders receiving 7.3 million shares of Lemonade and Lemonade receiving Metromile’s business including cash, premiums, and a team using precision sensor data from road trips.

Buyers
Lemonade
Targets
Metromile
Industry
Insurance
Location
United States
Transaction Type
Buyout

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