One of the country’s biggest insurance companies is acquiring a Phoenix-area company.
Allstate has agreed to pay $525 million in cash to take control of InfoArmor.
The company, headquartered in Scottsdale, offers identity protection services, primarily through employee benefits at more than 1,400 firms.
Allstate says acquiring InfoArmor provides significant opportunity to cross-sell through its own customer relationships. The deal is expected to be finalized later this year.
