Market Overview

Allstate Accelerates Expansion into Identity Protection with Acquisition of InfoArmor

Share:

Addresses emerging risks facing consumers

The Allstate Corporation (NYSE:ALL) has agreed to acquire InfoArmor,
Inc., a leading provider of employee identity protection to more than 1
million employees and their family members at over 1,400 firms,
including more than 100 of the Fortune 500 companies. The privately held
company, headquartered in Scottsdale, Arizona, will be purchased for
$525 million in an all-cash transaction expected to close later this
year.

"Consumers are increasingly at risk of having their digital identities
compromised. Last year there were over 16 million victims of identity
fraud, which resulted in over $16 billion of losses. With the
acquisition of InfoArmor, Allstate will protect more customers from this
risk and help rebuild their lives after they have been hacked," said Tom
Wilson, Chairman, President and CEO of Allstate. "InfoArmor is the go-to
identity protection company in the employee benefits market, providing
an opportunity to expand the Allstate Benefits business now serving over
4 million employees."

"InfoArmor and Allstate are an unbeatable combination in providing
identity protection to employees through voluntary benefit programs,"
said John Schreiber, CEO of InfoArmor. "Our relationships with top
benefit brokers and over 1,000 companies will be enhanced by Allstate's
capabilities and access to the Allstate Benefits distribution network."

The transaction is subject to regulatory approvals and customary closing
conditions.

A presentation, including additional information on the transaction, is
available on www.allstateinvestors.com.

About Allstate

The Allstate Corporation (NYSE:ALL) protects people from life's
uncertainties with more than 88 million proprietary policies. Allstate
offers a broad array of protection products through multiple brands and
diverse distribution channels, including auto, home, life and other
insurance offered through its Allstate, Esurance, Encompass, SquareTrade
and Answer Financial brands. Allstate is widely known from the slogan
"You're in Good Hands with Allstate."

About InfoArmor

InfoArmor, Inc. is a leader in the identity protection and advanced
threat intelligence industries. InfoArmor's employee benefit,
PrivacyArmor®, which is offered to employees by more than 100 of the
Fortune 500 companies, is a proactive identity monitoring service that
alerts users at the first sign of fraud and restores an individual's
identity. VigilanteATI® is InfoArmor's corporate threat intelligence
service, which monitors for emerging threats and protects companies from
hacks and cyberattacks.

Forward-Looking Statements

This news release contains "forward-looking statements" that anticipate
results based on our estimates, assumptions and plans that are subject
to uncertainty. These statements are made subject to the safe-harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements do not relate strictly to historical or
current facts and may be identified by their use of words like "plans,"
"seeks," "expects," "will," "should," "anticipates," "estimates,"
"intends," "believes," "likely," "targets" and other words with similar
meanings. We believe these statements are based on reasonable estimates,
assumptions and plans. However, if the estimates, assumptions or plans
underlying the forward-looking statements prove inaccurate or if other
risks or uncertainties arise, actual results could differ materially
from those communicated in these forward-looking statements. Factors
that could cause actual results to differ materially from those
expressed in, or implied by, the forward-looking statements may be found
in our filings with the U.S. Securities and Exchange Commission,
including the "Risk Factors" section in our most recent Annual Report on
Form 10-K. Forward-looking statements speak only as of the date on which
they are made, and we assume no obligation to update or revise any
forward-looking statement.

View Comments and Join the Discussion!