Mergers and Acquisitions, Mergers and Acquisitions, Distributed Workforce, Content

Assurant Acquires Fixt Onsite Mobile Device, Smartphone, Tablet Repair Company

Assurant ($AIZ) has acquired Fixt, a provider of on-demand mobile device support and repair services for smartphones and tablet computers, the companies have confirmed. Financial terms were not disclosed.

This is M&A deal 331 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.

Fixt allows consumers to schedule local, onsite repairs of mobile devices -- particularly smartphones and tablet computers. The company's platform also manages the logistics of getting remote or on-location employee devices scheduled, repaired and back in use. Fixt's network spans more than 1,500 on-demand repair technicians, and the company claims to support more than 200,000 devices.

Key Fixt customers have included T. Rowe Price Group Inc., Honeywell International Inc., Coca-Cola, U.S. Cellular, Home Depot and New York Police Department, according to a Baltimore Business Journal report from 2018.

Fixt raised $6.5 million in Series A funding in 2018, led by Precursor Ventures, with participation from Naples Technology Ventures and other existing investors. A 2016 seed round raised $1.4 million.

Meanwhile, Assurant has extensive experience in the mobile device support market. Assurant’s global service delivery network spans on-demand repair technicians, a network of more than 1,000 local repair stores and other retail wireless locations in the U.S., and express shipping, the company notes.

Assurant Acquires Fixt: Executive Perspectives

Luke Cooper, CEO, Fixt

Manny Becerra, TK

In a prepared statement about the deal, Manny Becerra, president of Global Connected Living at Assurant, said:

“Assurant continues to invest in creating uniquely better experiences for our client’s customer. Fixt strengthens Assurant’s proprietary device lifecycle management platform, providing customers with expanded options to resolve issues with their mobile devices and more control to manage their service experience. We’re also excited to welcome the talented Fixt team to Assurant and look forward to working together to bring new innovations to the market.”

Added Luke Cooper, CEO of Fixt:

“We’re excited to join Assurant to expand our mobile device protection and support services to customers around the world. We created the first on-demand technology repair platform for enterprise clients because we believed the consumerization of IT would completely revolutionize the way companies do business, including how they replaced broken mobile devices and tablets. Over the past few years, we have grown revenue and our technician network significantly to meet the growing demand for on-demand technology support.

“In these complex times, customers are choosing to align themselves with more diverse organizations that know how to innovate. As a Black founder, I am extremely proud to join a company with such a strong commitment to diversity, inclusion and real equity.”

Assurant: The Bigger Business Picture

Assurant's expertise extends far beyond mobile device support and repair services. The Fortune 500 company also offers vehicle protection services; pre-funded funeral insurance; renters insurance; lender-placed insurance products; and other specialty products. The Assurant Foundation strengthens communities by supporting charitable partners that help protect where people live and can thrive, connect with local resources, inspire inclusion and prepare leaders of the future.

Joe Panettieri

Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.