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Quote comparison M&A

Kanetix has acquired Insurance Hotline; the two companies will continue to run as separate brands

Online insurance marketplace, Kanetix Ltd., has acquired Insurance Hotline from subsidiaries of Torstar Corporation for an undisclosed amount.

The two companies will continue to run as separate brands, but will be managed as one company. Under terms of the deal, which was finalized Thursday, operational management will be with Kanetix Ltd. and Torstar will hold a minority stake in the company.

Read: KTX:The online insurance brokerage

“As online buying of financial products grows in Canada, the combined entity will be well-positioned to serve consumers’ needs and to provide our broker and insurance partners with the clients they need to grow their businesses,” a company press release stated.

Insurance Hotline recently launched ComparaSave, another online insurance, mortgage and credit card quote comparison site.

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