Summary
- LendingTree has agreed to acquire QuoteWizard for up to $370.2 million in upfront cash and contingent payments.
- QuoteWizard operates an online insurance marketplace that connects consumers with insurance carriers.
- TREE's stock has been quite volatile in the past year, and the deal for QuoteWizard brings synergies, diversification, and potentially greater financial predictability.
- Looking for a community to discuss ideas with? IPO Edge features a chat room of like-minded investors sharing investing ideas and strategies. Get started today »
Quick Take
LendingTree (TREE) announced it has agreed to acquire QuoteWizard.com for up to $370.2 million in cash and earnouts.
QuoteWizard operates as an online insurance comparison marketplace.
TREE is paying up for an important diversification element in its ongoing strategy; the deal provides it with significant carrier relationships, cross-selling opportunities, and increased marketing and monetization touch points.
