Brief: Tiptree To Acquire Growing Vehicle Warranty Solutions Provider, Smart Autocare

Tiptree

17/12/2019 15:52

Dec 17 (Reuters) - Tiptree Inc  TIPT.O :
    * TIPTREE TO ACQUIRE GROWING VEHICLE WARRANTY SOLUTIONS
PROVIDER,
SMART AUTOCARE
    * TIPTREE INC - PETER MASI WILL REMAIN CEO OF BUSINESS
    * TIPTREE  - INTENDS TO FUND ACQUISITION FROM A COMBINATION
OF
CASH AND DEBT FINANCING
    * TIPTREE INC -  AGREED TO ACQUIRE SMART AUTOCARE IN AN ALL
CASH
TRANSACTION THAT WILL ALSO INCLUDE INCENTIVE-BASED EARN OUTS
OVER TIME
    * TIPTREE-  SMART AUTOCARE AND ITS AFFILIATED ENTITIES WILL
BECOME
WHOLLY OWNED SUBSIDIARIES OF TIPTREE WARRANTY HOLDINGS LLC

Source text for Eikon:  ID:nBw2xJRR6a 
Further company coverage:  TIPT.O 

 ((Reuters.Briefs@thomsonreuters.com;))