Assurant acquires OptoFidelity’s mobile device test automation tech

ATLANTA - Assurant, Inc. (NYSE:AIZ), an $11.06 billion market cap company currently rated as undervalued according to InvestingPro analysis, has acquired the mobile device test automation technology portfolio from OptoFidelity, the company announced in a press release.

The acquisition aims to enhance Assurant’s capabilities in device testing across its Device Care Centers, supporting its refurbishment operations for pre-owned mobile devices. The move comes as the company maintains strong financial health with a 6.42% revenue growth over the last twelve months.

"Speed and accuracy are critical in device processing, repair, and refurbishment," said Brandon Johnson, SVP of Supply Chain at Assurant. "With the seamless integration of OptoFidelity’s mobile device test automation technology, we can re-purpose a greater volume of devices, with enhanced precision and efficiency, all in-house."

According to the company, the technology improves operational efficiency and strengthens Assurant’s ability to scale and optimize resources while integrating with existing processes. The modular technology works with both iOS and Android devices and can adapt to changing production volumes. Want deeper insights? InvestingPro subscribers have access to exclusive financial metrics and 8 additional ProTips about Assurant’s performance and outlook.

Founded in 2005, OptoFidelity has delivered over 9,000 test systems to mobile carriers, manufacturers, and retailers worldwide. The company specializes in optical metrology systems for mobile devices.

The acquisition supports Assurant’s automation and robotics initiatives across its Device Care Centers and aligns with its Global Connected Living business strategy. Assurant will also collaborate with FutureDial, described as the leading customer of the acquired technology, to ensure continued support for existing clients.

Assurant provides protection services for connected devices, homes, and automobiles, operating in 21 countries as a Fortune 500 company. The company has demonstrated solid performance with a 4.01% year-to-date return and maintains a "GOOD" overall financial health score according to InvestingPro analysis.

In other recent news, Assurant, Inc. has completed a public offering of $300 million in 5.550% Senior Notes due 2036, resulting in net proceeds of approximately $296 million. The company plans to use these funds to redeem $175 million of its outstanding 6.100% Senior Notes due 2026 and cover related expenses and general corporate purposes. Additionally, Assurant’s Board of Directors has declared a quarterly dividend of $0.80 per share, payable to stockholders on September 29, 2025. In strategic developments, Mike Campbell has been appointed as the new Executive Vice President and Chief Operating Officer, effective September 15, 2025. Assurant has also expanded its partnership with Holman to provide services to 30 new dealership locations. Furthermore, the company introduced HOIVerify Origination, an API-enabled platform designed to automate insurance verification during mortgage loan origination. These recent developments reflect Assurant’s ongoing efforts to enhance its operational capabilities and strategic partnerships.

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