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January 21, 2021
Local firm Porch, an online platform for residential real estate services including home repairs, went public last fall. Now it's announced four pending acquisitions. It plans to pay about $100 million, in cash and stock, for the insurer Homeowners of America of Texas. The firm is considered a business-to-business-to-consumer operation, or B2B2C. Porch founder and CEO Matt Ehrlichman said in a statement, “HOA is a great business with a deep and experienced leadership team who have spent more than a decade building a growing, profitable, and innovative managing general agent and insurance company hybrid. Porch will also acquire the marketing and data platform V12, of Boston, which is a software-as-a-service operation, or (SaaS). That stock and cash deal is expected to close at up to $28 million, also in the second quarter. In two smaller deals, Porch will acquire PalmTech, a home inspection platform, and iRoofing.