QuoteWizard has been family-run since launching 12 years ago. No layoffs among its 150 employees are planned
Online loan broker LendingTree said Thursday it will buy Seattle insurance comparison site QuoteWizard for more than $300 million.
QuoteWizard, which offers an online service for people to compare different options for car and home insurance, will remain in its Seattle headquarters in Pioneer Square as well as its offices in Denver and Sacramento. No layoffs among its 150 employees are planned, a spokesman said.
The company had revenue of $75.6 million during the first six months of this year. CEO Scott Peyree will stay on after the acquisition as president of LendingTree’s insurance division.
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LendingTree will pay $300 million for QuoteWizard and $70 million more over the next three years if the company reaches certain goals.
The deal is expected to close before the end of the year.