Porch Group Acquires American Home Protect and Signs Agreement to Acquire CSE Insurance
September 9, 2021
Porch Group announced the acquisition of American Home Protect (AHP), a Plano, Texas-based home warranty provider, and executed a definitive agreement to acquire CSE Insurance from Covéa, expanding Porch's InsurTech capabilities into California and adding auto and umbrella products. The transactions add approximately $40 million of annualized recurring revenue and broaden Porch's product set to include home warranties and additional insurance lines.
- Buyers
- Porch Group, Inc.
- Targets
- CSE Insurance, American Home Protect
- Sellers
- Covéa
- Industry
- Insurance
- Location
- United States
- Transaction Type
- Buyout
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