Tuesday, April 3, 2012

TechForward Acquired By SquareTrade

Los Angeles-based TechForward, the guaranteed electronics plan operator backed by New Enterprise Associates and First Round Capital, has sold its operating assets to SquareTrade, the companies said Tuesday. Financial details of the acquisition were not disclosed. According to the firms, SquareTrade will use the buy to expand its service capabilities. TechForward--which had been part of the LaunchpadLA program in 2010--offered up a way for consumers to guarantee a certain purchase price for their used electornics, making it possible for them to more easily trade in their obsolete electronics products in the future. The firm had raised somewhere in the neighborhood of $8M in a combination of equity and debt.