Centerfield, a US-based technology service for digital customer acquisition, has signed a definitive agreement to buy Datalot, a digital marketing solution for auto, home, health and Medicare insurance companies.
Datalot will be acquired from an investment fund affiliated with Lightyear Capital.
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Financial details of the deal have not been disclosed.
Dugout is Centerfield’s digital marketing solutions and technology platform that engages in-market consumers and automates end-to-end customer acquisition for brands operating in home services, business services, e-commerce, senior services and several other categories.
Following the acquisition of Datalot, Centerfield will be able to cater to the insurance industry, which is expected to spend over $11bn a year in acquisition of digital customers by 2025.
Centerfield co-founder and co-CEO Jason Cohen said: “Josh and the Datalot team have built an impressive business over the last decade and have a best-in-class marketing and technology platform for the insurance industry.
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By GlobalData“We are excited to combine and expand our best-in-class solutions across every category and brand we serve.”
Set up in 2009, Datalot provides over 10 million consumers to more than 40 carriers of auto, home, health and Medicare insurance every year.
It has offices in Brooklyn and Denver, and more than 300 employees.
Datalot founder and CEO Josh Reznick said: “We are still in the early innings of digital adoption in the insurance industry, with digital marketing spend set to double by 2025.
“We are thrilled to be joining Centerfield and are confident that the combination of our respective platforms will both extend our leadership position in digital insurance and facilitate faster expansion into additional categories.”
This deal represents the fourth add-on acquisition since Centerfield was acquired by Platinum Equity in December 2019.
