Cyber insurance technology company BOXX Insurance Inc., announced July 3 that it has entered into an agreement to be acquired by Zurich Insurance Group. Terms of the agreement were not disclosed. The transaction will see the Toronto, Ontario-based company continue to operate as a standalone entity going forward.
The deal reportedly gives BOXX the resources and global reach to accelerate its mission while Zurich Global Ventures says the BOXX will help it further enhance customer engagement and provide integrated solutions.
Launched in 2018, BOXX today serves close to one million customers. Its Cyberboxx products include the business edition, home edition and a suite of cyber security tools and services designed to help individuals and businesses predict, prevent and respond to cyber threats.
“This acquisition builds upon the recent investments, strategic hires and distribution partnerships with notable brands that BOXX has made,” the company said in a statement announcing the acquisition plans. “We’re trying to rewrite the rules of cyber protection.”
