Insignia Capital buys into MediaAlpha at $350m valuation

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San Francisco-based buyout house Insignia Capital Group has agreed to pick up a ‘significant’ minority stake in marketing tech company MediaAlpha to value the business at about $350m.

Seller White Mountains Insurance Group will remain a significant equityholder in MediaAlpha following the deal, with a 42 per cent ownership interest on a fully-diluted basis.

MediaAlpha operates exchange platforms to facilitate real-time transactions between advertisers and publishers of performance media – clicks, calls and leads.

The company has grown its insurance-related offerings to include auto, motorcycle, home, renter, health and life, as well as non-insurance verticals including travel, education, personal finance and home services.

MediaAlpha says it powers more than 200 million transactions annually, representing more than $400m in aggregate media spend.

The deal is expected to close within 60 days.

Insignia closed its debut fund at an oversubscribed $358m in 2016.

The firm has been tapping the vehicle for investments in North American lower mid-market companies in the consumer, healthcare, and business services sectors.

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