- Likewize announces strategic acquisition of Optus Insurance Services and 
15-year exclusive supply agreement with one of Australia's largest mobile phone 
operators

Likewize Corp. ("Likewize") today announced that it has entered into an 
agreement to buy 100% of the shares of Optus Insurance Services Pty Limited 
("OIS"), a wholly owned subsidiary of Singtel Optus Pty Limited ("Optus"). 
Likewize also announced that it signed a fifteen-year agreement to exclusively 
provide Optus customers with device insurance services, plus device replacement 
and upgrade programs. The total consideration under these agreements is A$200 
million (approximately US$140 million).

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Likewize is the world's leading tech protection and support company, committed 
to making every tech problem painless. Optus is one of Australia's largest 
mobile phone carriers.

Likewize has transformed in recent years to be the world's leading tech 
protection and support company. During this transformation Likewize has made 
significant investments in technology platforms, made several strategic 
acquisitions to broaden its service portfolio and sold off operations in 
non-strategic markets. Today, Likewize has the most comprehensive product 
portfolio that ensures they protect customers against every eventuality, 
whether a device is lost, stolen, damaged, malfunctioning, in need of an 
upgrade, or someone doesn't know how to do something – Likewize has the 
solution. 

Rod Millar, Likewize CEO said, "This is a very significant acquisition for us. 
It strengthens our device protection portfolio, creates a long-term partnership 
with one of Australia's leading mobile-carriers, and increases our ability to 
scale and deliver unprecedented levels of service to all customers in that 
market. We believe that this acquisition, together with several, recent large 
customer wins, position Likewize to continue to deliver strong growth moving 
forward."

Matt Williams, Optus Managing Director Products and Revenue, said "The 
structure of the arrangement also enables Optus to provide our customers with 
new, more flexible, and more complete products for device repairs, upgrades and 
replacements, provided through our partnership with Likewize, the world's 
leading tech protection company. This means Optus will go further in meeting 
customer needs, expanding our offering, and growing this part of our business 
accordingly." 

The transaction is expected to be completed in the second quarter of the 2022 
calendar year, subject to regulatory approval.

About Likewize 
When your tech goes wrong, Likewize makes it right. Likewize offers the most 
comprehensive protection against any technology disruption. Whether a device is 
lost, stolen, damaged, malfunctioning, in need of an upgrade or the user does 
not know how to do something, Likewize provides the solution. Trusted by the 
world's largest brands, telcos, and banks, to look after approximately a 
billion of their customers. We operate in over 30 countries, resolving 250 
million problems each year across insurance, warranty, repairs, trade-ins, 
re-commerce and premium tech support.  For more information, please visit: 
www.likewize.com. 

SOURCE  Likewize

CONTACT: Shane Blackburn, Senior Account Executive, Red Havas, on behalf of 
Likewize, Shane.Blackburn@redhavas.com, Mobile: +1 917.710.8393