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Announced

Completed

Cohen-backed Insurance Acquisition completed the merger with Shift Technologies in a $380m deal.

Financials

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Transaction Value£307m
Consideration TypeContingent Deferred Consideration, Ordinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Majority

Merger

Single Bidder

Friendly

e-commerce platform

Private

E-commerce

United States

Domestic

Venture Capital

Private Equity

Completed

Synopsis

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Cohen-backed Insurance Acquisition, a publicly traded special purpose acquisition company, completed the merger with Shift Technologies, an e-commerce car selling platform in a $380m deal. "Shift's mission is to make car purchase and ownership simple. Merging with Insurance Acquisition is the next step in our evolution and will enhance our ability to scale our operations as we continue to deliver one of the industry's broadest selections of used cars via our powerful technology platform," George Arison, Shift Co-CEO.

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