Insure.com, Inc., has sold its Insure.com brand name and related media assets for $16 million in cash to QuinStreet, Inc. The Insure.com, Inc., company intends to change its corporate name to Life Quotes, Inc., and will continue its business under the Life Quotes and Consumer Insurance Guide brand names.
The company will retain all of its remaining balance sheet assets, national brokerage contracts with life insurance companies, licensed insurance agents, call center operations, customer and prospect lists, and nearly all of its current inbound affiliate and traffic partnerships.
The Insure.com name and Web site originally were acquired in 2001 for $1.6 million. Revenue from this asset sale transaction will be recorded as an extraordinary, one-time gain in the fourth quarter of 2009.
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