Brightstar, a US-based company that offers end-to-end device lifecycle management solutions, has purchased Australian insurance agency Risk Insure.

The takeover of Risk Insure is part of Brightstar’s strategy to boost its device protection service across New Zealand and Australia.

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The acquired entity offers insurance solutions to commercial and corporate businesses throughout Australia.

Commenting on the deal, Brightstar global vice president of device protection sales Clayton Bodnarek said that the takeover of Risk Insure will enhance Brightstar’s presence in the device protection market.

“Brightstar has long been known for its innovative nature, and this acquisition gives us the opportunity to organically grow our device protection services within the Oceania region,” Bodnarek added.

Brightstar Oceania regional managing director Tyler McGee said that with smartphone prices increasing this deal will give Brightstar the opportunity to further tap into the growing insurance market for smartphones.

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“Risk Insure will help us provide a holistic service for retailers and operators, offering tailored insurance solutions that provide peace of mind to consumers across Australia and New Zealand,” McGee added.

Risk Insure co-founder Grant Goldner said he is happy with the Risk Insure achievement in the Australian market, and looks forward to growing and supporting their Australian clients with Brightstar.

“By combining our success with Brightstar’s global reach and scale, we’ll be able to take our device protection capabilities to the next level,” Goldner added.

Financial terms of the transaction have not been revealed.