Likewize (“the Company”), one of the world’s leading tech protection and support companies, today announced the closing of its previously announced investment transaction with Genstar Capital (“Genstar”), a leading private equity firm based in San Francisco. Through this strategic investment, Genstar has joined Likewize’s existing private equity investor, Brightstar Capital Partners (“Brightstar”), in supporting the Company’s next phase of growth. The Likewize management team also retains a significant ownership stake in the Company.
The signing of a definitive agreement for the transaction was announced on November 9, 2022.
Also Read: Data Security Trends to Look for in 2023
Likewize is trusted by many of the world’s largest brands, telcos, and financial services companies to protect approximately a billion of their customers from technology problems. The Company operates in over 30 countries, resolving 250 million device problems each year across insurance, warranty, repairs, trade-ins, recycling, and premium tech support.
“This new strategic investment by Genstar, alongside our existing partnership with Brightstar, is a strong vote of confidence in the exciting future of our company,” said Rod Millar, Chief Executive Officer of Likewize. “With the expertise and resources of our investment partners, we look forward to continuing our efforts to become the world’s leading tech protection and support company, and to bring innovative solutions to our customers and partners around the world.”
Jefferies LLC acted as lead financial advisor, and Citi served as financial advisor to Brightstar and Likewize.
For more such updates follow us on Google News ITsecuritywire News. Please subscribe to our Newsletter for more updates.
