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You are here: Home / News / Lemonade To Acquire Auto Insurer Metromile

Lemonade To Acquire Auto Insurer Metromile

November 10, 2021 By CollisionWeek Editor

Lemonade (NYSE:LMND) announced an agreement to acquire Metromile (NASDAQ: MILE, MILEW), the data science company focused on auto insurance, in an all-stock transaction that implies a fully diluted equity value of approximately $500 million, or just over $200 million net of cash. Under the terms of the transaction, Metromile shareholders will receive Lemonade common shares at a ratio of 19:1.

According to the company, while Lemonade has been at the forefront of using big data and AI in home and pet insurance, Metromile has been trailblazing a parallel path for car insurance. Metromile’s car-mounted precision sensors took over 400 million

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Filed Under: News Tagged With: Acquisitions, Auto Insurance, Lemonade, Metromile

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