SOURCE: Fortegra Financial
December 31, 2012 16:31 ET
JACKSONVILLE, FL--(Marketwire - Dec 31, 2012) - Fortegra Financial Corporation (NYSE: FRF) announced today the Company purchased a majority stake in Digital Leash, LLC, d/b/a ProtectCELL. ProtectCELL provides membership plans that afford protection for mobile wireless devices and a cadre of other benefits including data management and identity theft protection. ProtectCELL is one of the leaders in mobile device plans and will spearhead Fortegra's efforts to expand its warranty and service contract business in the mobile and wireless device space.
"We are extremely excited to make this investment in ProtectCELL. Their leadership team has created a strong platform, broad distribution and an exciting menu of products and services for consumers. ProtectCELL adds scale to our growing warranty and service contract business," said Richard Kahlbaugh, Chief Executive Officer of Fortegra. "The addition of ProtectCELL is squarely within Fortegra's growth strategy of expanding our warranty and service contract offerings and we expect ProtectCELL to enhance our growth initiatives and drive shareholder value over the long term."
"We are excited about the possibilities that are now at hand for ProtectCELL," said Rob Emery, Co-Founder of ProtectCELL. "The synergies between our cultures and companies are a great fit that will provide us the opportunity to expand our coverage to all types of electronic devices and broaden our offerings in the warranty and insurance space, while continuing to offer our existing membership plans."
Fortegra Financial Corporation is an insurance services company that provides distribution and administration services and insurance-related products to insurance companies, insurance brokers and agents and other financial services companies in the United States. Fortegra's brands include: Life of the South, Consecta, Bliss & Glennon (B&G), eReinsure (eRe), Motor Clubs, Pacific Benefits Group (PBG), Universal Equipment Recovery Group (UERG), and South Bay Acceptance Corporation (SBAC).
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