White Mountains company expands
MediaAlpha, a company owned by Bermudian-based White Mountains Insurance Group Ltd has acquired parts of Healthplans.com’s health and life insurance business. Terms of the transaction were not disclosed.
MediaAlpha is an advertising technology company. It operates exchange platforms that facilitate real-time transactions between advertisers and publishers of performance media (i.e., clicks, calls and leads).
MediaAlpha has developed distinctive platform solutions for a range of insurance verticals, including auto, motorcycle, home, renter, health and life, and non-insurance verticals, including travel, education, personal finance and home services. It powers over 25 million transactions annually, representing more than $250 million in aggregate media spend.
In a statement, White Mountains said the acquisition will expand MediaAlpha’s footprint in the health insurance and life insurance verticals and increase the company’s scale and profitability.
“We are pleased to support MediaAlpha in its acquisition,” commented Chris Delehanty, Managing Director of White Mountains. “The deal supplements MediaAlpha’s strong organic growth and further establishes MediaAlpha as the leader in its marketplace.”
The acquisition was financed with debt from MediaAlpha’s existing lender, Bridge Bank, and equity funded by MediaAlpha’s existing unit holders.
As a result of the transaction, White Mountains’ ownership in MediaAlpha increased to approximately 59 per cent on a fully-diluted basis.
Burt hints at independence move
My magic moment with Prince Harry
Spate of vandalism on North Shore
Mayor calls for action on violence
Edwena Smith (1932-2018)
The Loquats keep island buzzing all night
Residents clean up Bailey’s Bay
Four arrested after gun attack at bar
Christian ‘surprised’ to be given armband
Judge rules $33,770 was proceeds of drugs
Man admits brutal assault on Front Street
Drunk driver fell over twice
Win someone a perfect smile
Lovell tried to flee from police
Take Our Poll