Transaction to broaden and strengthen company’s digital footprint in home services
CHARLOTTE, N.C. – Today, Red Ventures, a leading digital consumer choice platform, announced the acquisition of Allconnect, a leader in sales and marketing solutions for energy companies, for an undisclosed amount.
Red Ventures uses advanced analytics, data science, and deep technical integration to cultivate digital connections between consumers and brands. Allconnect partners with utility and energy companies to help customers in over 50 million households compare and purchase home services. The acquisition positions the combined company to scale its home services marketplace and expand its footprint within the valuable mover segment.
“We’ve worked with Allconnect for years and have developed a deep understanding and respect for their business,” said Red Ventures CEO, Ric Elias. “Their strong digital marketplace and utility partnerships are a natural extension of our mover platform. With our combined capabilities, we are now in a better position to help utilities accelerate their digital transformations and better meet consumer preferences in the moving process.”
Red Ventures has a strategic focus on the mover category and services associated with the moving process. Its Home Services division includes integrated partnerships with large brands across the media and communications, security, and energy categories as well as a proprietary mover platform, which includes a long-term partnership with the United States Postal Service and exclusive access to market to 39 million movers throughout their move journey.
“For nearly 20 years, Allconnect has worked with utilities to make changing or transferring service a positive, easy experience,” said Sam Howe, Allconnect’s CEO. “We’re extremely proud of what we’ve built and believe that Red Ventures has the size, scale, and expertise in digital marketing to enable better, more convenient and more valuable connections between our customers and our partners.”
Allconnect is one of several additions to the Red Ventures portfolio as it continues to build and acquire consumer choice platforms in the healthcare, financial services, and home services industries.
“We are hyper focused on three industries, and Allconnect is an outstanding fit for what we are doing in Home Services,” Elias said. “Our platform and partnerships, integrated with the right digital audiences, will be a winning combination for customers, brands, and our business.”
Allconnect was advised on this transaction by Petsky Prunier Securities and Winston & Strawn LLP. Red Ventures was advised by K&L Gates LLP.
About Red Ventures
Red Ventures is a leading digital consumer choice platform based in Charlotte, North Carolina. Through deeply integrated brand partnerships and consumer-facing assets, Red Ventures connects online customers with products and services across high-growth industries including home services, financial services, and healthcare. Founded in 2000, Red Ventures has more than 2,700 employees in offices across the Carolinas, Seattle, Washington, London, and Sao Paulo, Brazil.
In 2015 Red Ventures acquired Imagitas, an on and offline mover services company which included the MyMove asset as well as a deep relationship with the USPS. In 2016, Red Ventures acquired Soda, a Seattle-based family of online brands including Reviews.com, Freshome, and The Simple Dollar. In July of this year, Red Ventures entered a definitive agreement to acquire Bankrate.
For more information, visit www.redventures.com.
Allconnect offers customers a convenient single source to compare and connect integrated media, broadband, home protection, energy and green products. Allconnect’s services are available at allconnect.com, through utility and energy companies representing over 50 million households, and via affiliates. Through more than 20 million annual consumer touch points, the company acquires customers, increases revenue and generates higher customer satisfaction for its partners. Allconnect’s 2016 customer satisfaction score of 86, as measured by the American Customer Satisfaction Index (ACSI), is the second-highest score of the publicly measured companies in 2016.
Founded in 1998, Allconnect is headquartered in Atlanta, Georgia, with offices in Lexington, Kentucky and St. George, Utah.
For more information, visit business.allconnect.com.