Porch Group enters into $100 million agreement to acquire Homeowners of America

Porch Group – a provider of software and services to home service industries – has expanded its insurtech portfolio with its acquisition of Homeowners of America Holding Corporation (HOA) and all of its subsidiaries for $100 million.

The HOA deal comprises $75 million in cash at closing, and $25 million in either cash or Porch Group common stock based on the share price at the time the transaction closes, a release said.