“This acquisition expands Allstate’s customer relationships with 25 million protection plans for consumer electronics and connected devices,” said Tom Wilson, chief executive at Allstate. Squaretrade is backed, in part, by Boston-based Bain Capital. Allstate will acquire SquareTrade with its cash and by issuing debt, the company said in a prepared statement. The transaction is expected to be a drag on Allstate’s per-share earnings for three years. The deal is pending regulatory approvals, among other closing conditions.

http://www.wsj.com/articles/allstate-to-acquire-squaretrade-in-1-4-billion-deal-1480373090