#acquisions

Allstate to acquire SquareTrade for $1.4 billion

Property and casualty insurer Allstate Corp (ALL.N) said on Monday it would buy SquareTrade Holding Co Inc for about $1.4 billion from a group of shareholders that include Bain Capital.

SquareTrade, founded in 1999 by Ahmed Khaishgi and Steve Abernethy, offers extended warranty plans for electronic gadgets.

San Francisco-headquartered SquareTrade’s customers include major retailers such as…