M&A Deal Summary

Allstate Acquires PlumChoice

On December 18, 2018, Allstate acquired information technology company PlumChoice from M/C Partners

Acquisition Highlights
  • This is Allstate’s 2nd transaction in the Information Technology sector.
  • This is Allstate’s 11th transaction in the United States.
  • This is Allstate’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2018-12-18
Target PlumChoice
Sector Information Technology
Buyer(s) Allstate
Sellers(s) M/C Partners
Deal Type Add-on Acquisition
Advisor(s) Bowen (Financial)

Target

PlumChoice

Lowell, Massachusetts, United States
PlumChoice is a provider of technology care solutions for home and small business customers. The company is reinventing technology care for their home and small business customers. PlumChoice was founded in 2001 and is based in Lowell, Massachusetts.

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Buyer(S) 1

Buyer

Allstate

Northbrook, Illinois, United States

Category Company
Founded 1931
Sector Insurance
Employees55,000
Revenue 64.1B USD (2024)
DESCRIPTION
Entrance to Allstate's corporate headquarters in Northbrook, Illinois.
Entrance to Allstate's corporate headquarters in Northbrook, Illinois.

Allstate is a provider of insurance offerings, including property-liability insurance, auto/home, and life insurance. Allstate was formed in 1931 and is based in Northbrook, Illinois.


DEAL STATS #
Overall 11 of 14
Sector: Information Technology M&A 2 of 2
Type: Add-on Acquisition M&A Deals 8 of 11
State: Massachusetts M&A 1 of 1
Country: United States M&A 11 of 14
Year: 2018 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-27 InfoArmor

Scottsdale, Arizona, United States

InfoArmor, Inc. is a provider of solutions for employee identity protection and advanced threat intelligence to help organizations protect their most valuable assets. InfoArmor, Inc. was founded in 2007 and is based in Scottsdale, Arizona.

Buy $525M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-12 iCracked

San Francisco, California, United States

iCracked, Inc. is a provider of on-site, on-demand repair services for smartphones and tablets. iCracked, Inc. was founded in 2010 and is based in San Francisco, California.

Buy -

Seller(S) 1

SELLER

M/C Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 2.4B USD
Size Large
Type Sector Focused
DESCRIPTION

M/C Partners is a private equity and venture capital firm that targets communications, media and information technology companies throughout the US, Canada and Europe. M/C looks to invest $10 to $50 million per transaction and is usually the first institutional investor in its portfolio companies. Areas of interest include cable system operators, wireline communications services, fixed wireless broadband operators, media/content, mobile wireless data software and services and operators, wireless tower operators and on-demand software companies. Prospective transaction types include buyouts, growth capital and seed capital financing. M/C partners was formerly known as Chestnut Street Partners. M/C Partners was founded in 1986. The Firm is based in Boston with additional offices in San Francisco and London.


DEAL STATS #
Overall 26 of 31
Sector: Information Technology M&A 5 of 8
Type: Add-on Acquisition M&A Deals 15 of 16
State: Massachusetts M&A 2 of 2
Country: United States M&A 21 of 26
Year: 2018 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-09 Everstream

Cleveland, Ohio, United States

Everstream is a super-regional network service provider bringing fiber-based Ethernet, internet and data center solutions to businesses throughout the Midwest. We are the Business Fiber Network. We focus on delivering best-in-class network solutions while providing an unrivaled commitment to customer service. With more than 10,000 route miles and comprehensive data center connectivity at 100 Gigabit speed, we provide the fastest network in our service areas. Everstream’s network allows businesses to operate a converged IP network capable of delivering robust voice, video, and data services at speeds from 10 Mbps to 100 Gbps. Everstream was founded in 2012 and is based in Cleveland, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-08 Carbon60 Networks

Toronto, Ontario, Canada

Carbon60 Networks specializes in delivering end-to-end managed hosting solutions for public and private sector organizations with business-critical workloads. Carbon60 provides secure and high-performance hosting services using its Canadian cloud platform in Toronto and Kelowna and the leading hyperscale clouds for hybrid IT solutions. Carbon60 Networks was founded in 1996 and is based in Toronto, Ontario.

Buy -