Southlake Tech Company Likewize Acquires Optus Tech Insurance

Likewize CEO. | Imagew from Likewize

Likewize, an explosive new competitor in the technology sector from Southlake, recently announced their purchase of Optus Tech Insurance for $140 million. A subsidiary of Australian tech giant Singtel Optus Pty. Ltd., Optus Tech Insurance sold all of their shares to Likewize, and has agreed to a fifteen-year contract.

Likewize went through a massive rebranding throughout 2021, as well as expanded its services beyond mobile phone repair. Likewize will now take over Optus’ responsibilities, which include insuring mobile phones and managing upgrade programs.

CEO of Likewize, Rod Millar, stated, “We believe that this acquisition, together with several, recent large customer wins, position Likewize to continue to deliver strong growth moving forward.”

With Likewize’s growth comes the growth of jobs and industry in the North Texas area. The company has already made North Texas a hub for the majority of its fulfillment and call center operations, according to an analysis by The Dallas Morning News. It says they will employ over 650 Texans in their business by around 2022.

The company happens to be the latest player in the Texas technology game, which is expanding more quickly than the United States average of 7.5%. According to a CBRE report, the Dallas-Fort Worth area is ranked #8 in the growth of the technology industry, with an increase of 12.7% growth in the last two years alone.

Likewize, previously called Brightstar, recently moved its headquarters from Miami to Southlake. The company has worked behind the scenes since its founding in 1997, repairing phones under warranty for Apple, Walmart, and Amazon.

Earlier this year, Likewize announced the creation of a newly renovated mega-factory located near DFW airport. The 500,000 square foot factory already employs two hundred people, with hopes of reaching over five hundred. Likewize CEO Rod Millar says the plant will be able to repair 42 million phones per year, with the help of new automation technology.

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